Analysts forecast that Zillow Group, Inc. (NASDAQ:ZG) will report $261.79 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Zillow Group’s earnings. The highest sales estimate is $264.17 million and the lowest is $258.8 million. Zillow Group posted sales of $208.4 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.6%. The business is expected to report its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Zillow Group will report full year sales of $261.79 million for the current financial year, with estimates ranging from $1.04 billion to $1.1 billion. For the next year, analysts anticipate that the firm will post sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.29 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Zillow Group.
Zillow Group (NASDAQ:ZG) last posted its earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.08. Zillow Group had a negative net margin of 26.04% and a negative return on equity of 7.24%. The business had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $236.04 million. During the same quarter last year, the business posted ($0.13) earnings per share. The business’s revenue was up 32.2% compared to the same quarter last year.
Several analysts have issued reports on the company. Cowen and Company boosted their price objective on Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, May 5th. Zacks Investment Research downgraded Zillow Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Benchmark Co. boosted their price objective on Zillow Group from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Royal Bank of Canada boosted their price objective on Zillow Group from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $48.00 price objective (up previously from $41.00) on shares of Zillow Group in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.06.
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Zillow Group (NASDAQ:ZG) opened at 42.69 on Friday. The stock’s market capitalization is $7.82 billion. The firm’s 50-day moving average is $35.98 and its 200 day moving average is $35.78. Zillow Group has a 12-month low of $26.77 and a 12-month high of $44.13.
Several large investors have recently made changes to their positions in the stock. Intellectus Partners LLC purchased a new stake in shares of Zillow Group during the fourth quarter valued at approximately $116,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Zillow Group during the fourth quarter valued at approximately $200,000. Fox Run Management L.L.C. purchased a new stake in shares of Zillow Group during the first quarter valued at approximately $213,000. First Republic Investment Management Inc. purchased a new stake in shares of Zillow Group during the fourth quarter valued at approximately $300,000. Finally, Brighton Jones LLC purchased a new stake in shares of Zillow Group during the third quarter valued at approximately $334,000. 27.41% of the stock is owned by institutional investors and hedge funds.
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