Zillow Group (NASDAQ:ZG) Given New $50.00 Price Target at DA Davidson

Zillow Group (NASDAQ:ZG) had its price objective lowered by stock analysts at DA Davidson from $60.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price points to a potential upside of 35.54% from the stock’s previous close.

A number of other equities analysts also recently commented on ZG. Evercore set a $40.00 price objective on shares of Zillow Group and gave the stock an “in-line” rating in a research report on Thursday. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. UBS Group lowered their price target on shares of Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Zillow Group in a research report on Thursday. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.14.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $36.89 on Thursday. The firm has a market capitalization of $8.44 billion, a PE ratio of 147.56, a price-to-earnings-growth ratio of 1.58 and a beta of 1.95. Zillow Group has a fifty-two week low of $29.03 and a fifty-two week high of $90.22. The stock’s 50-day simple moving average is $33.23 and its 200-day simple moving average is $41.83.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. During the same period in the previous year, the company earned $0.40 earnings per share. Zillow Group’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts forecast that Zillow Group will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. The trade was a 5.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Bradley D. Owens sold 3,364 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the completion of the sale, the general counsel owned 65,245 shares of the company’s stock, valued at approximately $2,429,071.35. The trade was a 4.90% 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. Over the last 90 days, insiders have sold 42,910 shares of company stock valued at $1,605,732. 29.88% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

A number of hedge funds have recently made changes to their positions in ZG. Signaturefd LLC raised its stake in shares of Zillow Group by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after acquiring an additional 161 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Zillow Group by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock worth $147,000 after buying an additional 198 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Zillow Group by 0.4% in the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock worth $3,627,000 after buying an additional 215 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Zillow Group by 1.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock worth $1,248,000 after buying an additional 247 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Zillow Group by 8.5% during the 3rd quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company’s stock worth $246,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Trending Headlines about Zillow Group

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

• Positive Sentiment: Zillow reported second-quarter adjusted earnings of $0.52 per share, above the $0.44 analyst consensus, while revenue rose 17.9% year over year to $772 million, exceeding estimates of approximately $758 million. Zillow Group Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: KeyBanc maintained its Buy rating, signaling continued analyst support following the quarterly results. KeyBanc Maintains Buy Rating
• Neutral Sentiment: Zillow expanded Chief Financial Officer Jeremy Hofmann’s responsibilities to include chief operating officer and appointed Cassandra Knight as its first chief legal and policy officer. The changes are intended to support the company’s housing “super app” strategy but add to leadership-transition uncertainty. Zillow Strengthens Executive Leadership Team
• Negative Sentiment: Third-quarter revenue guidance of $745 million to $760 million fell below the $772.3 million consensus estimate. Full-year revenue guidance of $2.9 billion to $3.0 billion also only reached, rather than exceeded, the roughly $3.0 billion analyst forecast, raising concerns about slowing growth. Zillow Stock Sinks on Layoffs and Soft Guidance
• Negative Sentiment: Zillow recorded a $4 million net loss after $36 million in restructuring costs, contrasting with analysts’ expectation for approximately $21 million of net income. The company also eliminated more than 500 positions, or about 7% of its workforce, suggesting management is cutting costs amid operating challenges. Zillow Swings to Loss on Restructuring Costs
• Negative Sentiment: Several law firms reiterated notices about a securities-fraud class action and an August 10 lead-plaintiff deadline involving alleged anticompetitive agreements and regulatory risks. The legal announcements add reputational and potential financial-risk overhang, although they do not represent a final finding of wrongdoing. Zillow Securities Fraud Class Action Notice

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.