Zillow Group (NASDAQ:ZG) Price Target Cut to $40.00 by Analysts at Citizens Jmp

Zillow Group (NASDAQ:ZG) had its price target lowered by Citizens Jmp from $46.00 to $40.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

ZG has been the subject of several other reports. Royal Bank Of Canada decreased their price objective on Zillow Group from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday. DA Davidson cut their target price on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company set a $21.00 price target on shares of Zillow Group in a report on Monday, October 12th. Citigroup lowered their price target on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Piper Sandler dropped their price objective on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group presently has an average rating of “Hold” and an average target price of $48.95.

Zillow Group Stock Down 9.4%

ZG opened at $31.21 on Thursday. The stock’s fifty day moving average is $31.72 and its two-hundred day moving average is $38.68. The company has a market capitalization of $7.02 billion, a P/E ratio of -60.02, a PEG ratio of 1.47 and a beta of 1.95. Zillow Group has a 52 week low of $27.25 and a 52 week high of $74.80.

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

Insiders Place Their Bets

In other Zillow Group news, CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were 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. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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, insider Errol Samuelson sold 3,154 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $107,992.96. Following the sale, the insider directly owned 130,885 shares of the company’s stock, valued at approximately $4,481,502.40. The trade was a 2.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 38,539 shares of company stock valued at $1,323,800 in the last three months. 29.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently bought and sold shares of ZG. EverSource Wealth Advisors LLC increased its position in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after purchasing an additional 637 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Zillow Group by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company’s stock valued at $458,000 after purchasing an additional 699 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Zillow Group by 4.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company’s stock valued at $639,000 after purchasing an additional 699 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Zillow Group in the 2nd quarter worth $29,000. Finally, Fifth Third Bancorp boosted its position in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after purchasing an additional 921 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Key Zillow Group News

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

About Zillow Group

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.