Zillow Group, Inc. (ZG) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Zillow Group, Inc. (NASDAQ:ZG) from a buy rating to a hold rating in a research report released on Tuesday morning.
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 brokerages also recently issued reports on ZG. Deutsche Bank AG reaffirmed a hold rating and issued a $50.00 price objective (up previously from $44.00) on shares of Zillow Group in a research report on Monday, August 7th. ValuEngine downgraded shares of Zillow Group from a hold rating to a sell rating in a research report on Wednesday, September 6th. Craig Hallum reaffirmed a buy rating on shares of Zillow Group in a research report on Thursday, June 22nd. KeyCorp initiated coverage on shares of Zillow Group in a research report on Monday, July 17th. They issued an equal weight rating for the company. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $53.00 price objective (up previously from $45.00) on shares of Zillow Group in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $45.07.
Shares of Zillow Group (NASDAQ ZG) traded down 0.53% on Tuesday, reaching $39.66. 18,926 shares of the company were exchanged. Zillow Group has a 1-year low of $31.17 and a 1-year high of $50.91. The company has a 50-day moving average price of $41.82 and a 200 day moving average price of $40.88. The stock’s market capitalization is $7.35 billion.
Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, August 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.11). The business had revenue of $266.85 million for the quarter, compared to analyst estimates of $262.21 million. Zillow Group had a negative return on equity of 0.40% and a negative net margin of 4.47%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the company posted ($0.71) EPS. On average, analysts forecast that Zillow Group will post $0.49 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of ZG. UBS Group AG increased its position in Zillow Group by 1,595.6% in the first quarter. UBS Group AG now owns 741,317 shares of the technology company’s stock worth $25,064,000 after buying an additional 697,598 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Zillow Group during the second quarter valued at $32,613,000. Vanguard Group Inc. increased its holdings in shares of Zillow Group by 11.9% during the first quarter. Vanguard Group Inc. now owns 4,192,272 shares of the technology company’s stock valued at $141,741,000 after purchasing an additional 444,184 shares during the period. State of Wisconsin Investment Board increased its holdings in shares of Zillow Group by 88.1% during the second quarter. State of Wisconsin Investment Board now owns 605,427 shares of the technology company’s stock valued at $29,569,000 after purchasing an additional 283,536 shares during the period. Finally, Caledonia Private Investments Pty Ltd increased its holdings in shares of Zillow Group by 2.0% during the second quarter. Caledonia Private Investments Pty Ltd now owns 13,628,910 shares of the technology company’s stock valued at $667,953,000 after purchasing an additional 268,722 shares during the period. 26.13% of the stock is currently owned by hedge funds and other institutional investors.
Zillow Group Company Profile
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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