Zacks Investment Research Lowers Zillow Group, Inc. (ZG) to Sell
According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “
Several other analysts have also commented on ZG. RBC Capital Markets set a $42.00 price target on shares of Zillow Group and gave the company a buy rating in a research report on Sunday, October 30th. Bank of America Corporation started coverage on shares of Zillow Group in a research report on Monday, October 31st. They set a buy rating and a $40.00 price target on the stock. Susquehanna Bancshares Inc reaffirmed a neutral rating and set a $31.00 price target (down previously from $35.00) on shares of Zillow Group in a research report on Wednesday, November 2nd. Mizuho lifted their price target on shares of Zillow Group from $35.00 to $38.00 and gave the company a neutral rating in a research report on Thursday, November 3rd. Finally, Needham & Company LLC reaffirmed a buy rating and set a $40.00 price target on shares of Zillow Group in a research report on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $37.67.
Shares of Zillow Group (NASDAQ:ZG) opened at 34.79 on Tuesday. The stock’s market cap is $6.33 billion. Zillow Group has a one year low of $20.05 and a one year high of $39.99. The stock’s 50 day moving average price is $36.53 and its 200 day moving average price is $35.35.
Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, February 7th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm had revenue of $227.60 million for the quarter, compared to analyst estimates of $222.30 million. Zillow Group had a negative net margin of 26.04% and a negative return on equity of 7.24%. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. Analysts forecast that Zillow Group will post $0.43 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the company. Caledonia Private Investments Pty Ltd increased its position in Zillow Group by 5.1% in the second quarter. Caledonia Private Investments Pty Ltd now owns 13,671,379 shares of the company’s stock valued at $501,056,000 after buying an additional 668,220 shares during the period. 1832 Asset Management L.P. acquired a new position in Zillow Group during the second quarter valued at approximately $14,800,000. Friess Associates LLC acquired a new position in Zillow Group during the second quarter valued at approximately $11,911,000. QVT Financial LP increased its position in Zillow Group by 71.4% in the second quarter. QVT Financial LP now owns 600,000 shares of the company’s stock valued at $21,990,000 after buying an additional 250,000 shares during the period. Finally, CQS Cayman LP acquired a new position in Zillow Group during the third quarter valued at approximately $8,440,000. Institutional investors and hedge funds own 27.41% of the company’s stock.
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