SunTrust Banks Initiates Coverage on Zillow Group (NASDAQ:ZG)

Equities researchers at SunTrust Banks assumed coverage on shares of Zillow Group (NASDAQ:ZG) in a research note issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $49.39 price target on the technology company’s stock. SunTrust Banks’ target price would indicate a potential upside of 1.44% from the company’s previous close.

Several other brokerages have also recently commented on ZG. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Bank of America restated a “hold” rating on shares of TELUS in a report on Friday, May 10th. Jefferies Financial Group set a €20.00 ($23.26) price target on shares of ThyssenKrupp and gave the stock a “buy” rating in a report on Friday, May 10th. Barclays restated a “hold” rating on shares of Mettler-Toledo International in a report on Wednesday, May 15th. Finally, ValuEngine cut shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Zillow Group presently has a consensus rating of “Hold” and an average target price of $45.46.

Shares of ZG traded down $2.19 during midday trading on Tuesday, hitting $48.69. The stock had a trading volume of 186,868 shares, compared to its average volume of 960,674. Zillow Group has a fifty-two week low of $26.20 and a fifty-two week high of $64.66. The stock’s 50-day moving average price is $44.74. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of -187.31 and a beta of 0.82. The company has a current ratio of 4.73, a quick ratio of 3.98 and a debt-to-equity ratio of 0.25.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Thursday, May 9th. The technology company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.08. Zillow Group had a negative net margin of 11.35% and a negative return on equity of 3.18%. The company had revenue of $454.10 million during the quarter, compared to analysts’ expectations of $432.09 million. During the same period last year, the company posted $0.07 earnings per share. The business’s revenue for the quarter was up 51.4% on a year-over-year basis. On average, equities analysts anticipate that Zillow Group will post -1.62 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in ZG. Highbridge Capital Management LLC increased its holdings in Zillow Group by 792.4% in the 4th quarter. Highbridge Capital Management LLC now owns 58,150 shares of the technology company’s stock valued at $1,827,000 after buying an additional 51,634 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Zillow Group by 16.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 16,245 shares of the technology company’s stock valued at $511,000 after acquiring an additional 2,335 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Zillow Group in the 4th quarter valued at about $116,000. Resources Investment Advisors Inc. bought a new stake in Zillow Group during the 4th quarter worth approximately $47,000. Finally, Squarepoint Ops LLC bought a new stake in Zillow Group during the 4th quarter worth approximately $466,000. 24.15% of the stock is currently owned by institutional investors.

About Zillow Group

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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