Zillow Group (NASDAQ:ZG) Price Target Cut to $39.00 by Analysts at Piper Sandler

Zillow Group (NASDAQ:ZG) had its price objective decreased by Piper Sandler from $46.00 to $39.00 in a research report report published on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

ZG has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft set a $80.00 target price on Zillow Group in a report on Monday, August 24th. Cantor Fitzgerald cut their price objective on shares of Zillow Group from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday. Susquehanna decreased their price target on Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Citizens Jmp cut their target price on Zillow Group from $46.00 to $40.00 and set a “market outperform” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group decreased their target price on Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.95.

Zillow Group Price Performance

Shares of ZG stock opened at $31.21 on Thursday. The company has a fifty day moving average price of $31.72 and a two-hundred day moving average price of $38.68. Zillow Group has a one year low of $27.25 and a one year high of $74.80. The stock has a market cap of $7.02 billion, a P/E ratio of -60.02, a P/E/G ratio of 1.47 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, November 4th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.18%. The firm had revenue of $724.00 million during the quarter, compared to the consensus estimate of $753.66 million. During the same period in the previous year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Zillow Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, CEO Jeremy Wacksman sold 9,339 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02. Following the completion of the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at $4,736,459.32. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer directly owned 59,144 shares in the company, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,539 shares of company stock worth $1,323,800 over the last 90 days. Company insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP lifted its position in shares of Zillow Group by 1,290.7% in the 2nd quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock worth $3,010,000 after purchasing an additional 89,059 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Zillow Group in the 2nd quarter valued at about $1,614,000. MFG Wealth Management Inc. acquired a new stake in Zillow Group during the second quarter worth approximately $2,146,000. Assenagon Asset Management S.A. increased its holdings in Zillow Group by 724.4% in the third quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock worth $11,257,000 after purchasing an additional 357,104 shares in the last quarter. Finally, AXQ Capital LP bought a new stake in Zillow Group in the second quarter worth approximately $2,015,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group News Summary

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Piper Sandler kept its “overweight” rating and Citizens JMP maintained “market outperform”; although both lowered their price targets, the new targets of $39 and $40 remain above the recent share price. Piper Sandler analyst update Citizens JMP analyst update
• Neutral Sentiment: Third-quarter revenue increased 7.1% year over year to $724 million, with rentals helping cushion weakness in home sales. That growth was below analysts’ $753.7 million estimate. Zillow revenue and rentals report
• Negative Sentiment: Zillow reported Q3 adjusted earnings of $0.55 per share, below the $0.60 consensus, while revenue also missed expectations. The shortfall weighed on sentiment despite earnings being higher than a year earlier. Zillow Q3 earnings results
• Negative Sentiment: Zillow’s October market report showed preliminary existing-home sales down 8.7% year over year and newly pending listings down 16.8%—the steepest annual decline since August 2023. A weaker sales pipeline could constrain future industry activity and Zillow’s growth. Zillow October Market Report
• Negative Sentiment: Several firms reduced their targets: Wells Fargo cut its target to $30 and kept an “equal weight” rating; Bernstein lowered its target to $34 with “market perform”; Cantor Fitzgerald cut to $26 and “neutral.” These reductions reinforce concerns about near-term upside. Analyst target changes

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.