Zillow Group Inc. (ZG) Earns Buy Rating from Analysts at Needham & Company LLC
Investment analysts at Needham & Company LLC began coverage on shares of Zillow Group Inc. (NASDAQ:ZG) in a research note issued on Friday. The firm set a “buy” rating and a $40.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 20.55% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Zillow Group from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Thursday. Barclays PLC upped their price objective on shares of Zillow Group from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Cowen and Company reaffirmed a “market perform” rating and issued a $37.00 price objective (up previously from $29.00) on shares of Zillow Group in a report on Monday, August 8th. Canaccord Genuity upped their price objective on shares of Zillow Group from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Zillow Group in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.38.
Shares of Zillow Group (NASDAQ:ZG) remained flat at $33.18 during midday trading on Friday. The stock had a trading volume of 221,051 shares. The company has a 50 day moving average price of $34.30 and a 200-day moving average price of $31.74. Zillow Group has a 12 month low of $16.45 and a 12 month high of $39.99. The stock’s market cap is $5.95 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/zillow-group-inc-zg-earns-buy-rating-from-analysts-at-needham-company-llc.html
Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.68. The company earned $208.40 million during the quarter, compared to analyst estimates of $205.90 million. Zillow Group had a negative return on equity of 9.25% and a negative net margin of 34.51%. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. Analysts anticipate that Zillow Group will post ($0.56) EPS for the current year.
Several institutional investors have recently modified their holdings of ZG. Aperio Group LLC acquired a new position in shares of Zillow Group during the first quarter worth $250,000. TIAA CREF Investment Management LLC acquired a new position in shares of Zillow Group during the first quarter worth $3,268,000. BlackRock Inc. acquired a new position in shares of Zillow Group during the first quarter worth $166,000. BlackRock Institutional Trust Company N.A. acquired a new position in shares of Zillow Group during the first quarter worth $26,596,000. Finally, Spark Investment Management LLC acquired a new position in shares of Zillow Group during the first quarter worth $674,000. Institutional investors own 29.86% of the company’s stock.
Receive News & Ratings for Zillow Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.