Zillow Group, Inc. (NASDAQ:Z) is now being followed by Standpoint Research, as they initiated the stock at Buy on November 26. Analysts at Morgan Stanley, shed their negative views on January 11 by lifting it fromEqual-Weight to Overweight. Brokerage firm Stifel, looks cautious as they stick to prior recommendation of Buy, in a call on June 30. However, they did change the target price from $46 to $54.50.
Zillow Group, Inc. (Z) hit an intraday high Thursday at $37.04. The shares finished at $37.02, after trading as low as $34.17 earlier in the session. It rose 3.29% in recent trade and currently has a stock-market value of $5.15B. Trading activity significantly weakened as the volume at ready counter decreased to 3,326,344 shares versus 5,507,595 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 2,241,011 shares. The stock is now 40.33% above against its bear-market low of $26.38 on November 20, 2018. It has retreated -77.47% since it’s 52-week high of $65.7 reached in June. Now the market price is down -8.21% on the year and down -9.53% YTD.
Z’s 50 day simple moving average (SMA 50) price is $37.09 and its 200-day simple moving average (SMA 200) price is $49.72. The company’s stock currently has a total float of 129.18M shares. Its weekly volatility is hovering around 6.2% and felt 6.54% volatility in price over a month. On the upside, the share price will test short term resistance at around $37.98. On a downside, the stock is likely to find some support, which begins at $35.11. The failure to get near-term support could push it to $33.21.
Separately, it has been reported that multiple insider activity took place at Zillow Group, Inc. (Z). President Media & Marketplaces Schwartz Greg M sold 5,400 shares for $11,207 in transaction occurred on 2018/12/03. After making this transaction, the President Media & Marketplaces owns a direct stake of 201,582 shares, worth $414,883, as per the last closing price. On 2018/11/30 Hoag Jay C, Director at Z, purchased 1,049,403 shares at an average price of $35.42 per share. The new stake is valued at $139,000,000.
Director, Hoag Jay C had invested in 850,000 shares for $442,435 through a trade on 2018/11/23. Following this activity, the insider holds 24,803,000 shares worth $16,378,944 as of recent close. Wall Street’s most bullish Zillow Group, Inc. (NASDAQ:Z) analysts are predicting the share price to blow past $70 per share during the next 12 months. The current median share price forecast by them is $39, suggesting that the stock could increase 5.35% in that time frame. The average price target of $40 calls for a nearly 8.05% increase in the stock price.
Moreover, it trades for 94.92 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.27x price/book and 4.12x price/sales.