Zillow Group (NASDAQ:ZG) Given New $43.00 Price Target at UBS Group

Zillow Group (NASDAQ:ZG) had its price objective decreased by UBS Group from $48.00 to $43.00 in a research note published on Thursday,Benzinga reports. UBS Group currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. Evercore reiterated a “reduce” rating and set a $35.00 price objective on shares of Zillow Group in a report on Thursday. KeyCorp lowered their target price on Zillow Group from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday. DA Davidson dropped their target price on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Canaccord Genuity Group dropped their target price on shares of Zillow Group from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Citizens Jmp reduced their price target on shares of Zillow Group from $46.00 to $40.00 and set a “market outperform” rating for the company in a report on Thursday. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.43.

Zillow Group Trading Down 9.4%

ZG stock opened at $31.21 on Thursday. The business’s 50-day moving average price is $31.72 and its two-hundred day moving average price is $38.68. The firm has a market cap of $7.02 billion, a PE ratio of -60.02, a P/E/G ratio of 1.47 and a beta of 1.95. Zillow Group has a 1-year low of $27.25 and a 1-year high of $74.80.

Zillow Group (NASDAQ:ZG) last posted 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 business had revenue of $724.00 million during the quarter, compared to analyst estimates of $753.66 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Zillow Group will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction 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 trade represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CEO Jeremy Wacksman sold 9,339 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. This represents a 6.31% decrease in their position. 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 quarter, insiders sold 38,539 shares of company stock valued at $1,323,800. Corporate insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of ZG. Illinois Municipal Retirement Fund bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $1,415,000. Fulcrum Asset Management LLP acquired a new stake in shares of Zillow Group in the third quarter valued at approximately $399,000. Brighton Jones LLC bought a new stake in shares of Zillow Group in the third quarter worth $231,000. Parallel Advisors LLC lifted its position in shares of Zillow Group by 244.8% in the third quarter. Parallel Advisors LLC now owns 2,200 shares of the technology company’s stock worth $61,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Signaturefd LLC bought a new stake in shares of Zillow Group in the third quarter worth $154,000. 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 despite lowering its price target to $39 from $46. Citizens JMP also maintained “market outperform,” with a reduced $40 target. Both targets imply upside from the reference price. Piper Sandler rating Citizens JMP rating
• Neutral Sentiment: Revenue rose 7.1% year over year to $724 million, with rentals helping offset weak home-sales conditions. However, the result was below analysts’ $753.7 million estimate, and EPS of $0.55 also missed the $0.60 consensus. Zillow revenue and rentals Zillow Q3 results
• Negative Sentiment: Housing-market indicators worsened: newly pending listings fell 16.8% year over year in October, while Zillow’s preliminary measure of existing home sales declined 8.7%. Fewer pending sales may weigh on Zillow’s transaction-related business. October Zillow Market Report
• Negative Sentiment: Several analysts lowered price targets after the results. Wells Fargo cut its target to $30 and kept an “equal weight” rating; Cantor Fitzgerald lowered its target to $26 and assigned “neutral”; Bernstein reduced its target to $34 while maintaining “market perform.” The broad pattern of target reductions reflects caution about Zillow’s outlook. Wells Fargo rating Cantor Fitzgerald rating

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.