Zacks Investment Research downgraded shares of Zillow Group Inc. (NASDAQ:ZG) from a buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “
Several other brokerages also recently commented on ZG. Needham & Company LLC started coverage on Zillow Group in a report on Friday, October 7th. They issued a buy rating and a $40.00 target price on the stock. Vetr downgraded Zillow Group from a sell rating to a strong sell rating and set a $31.00 target price on the stock. in a report on Monday, June 20th. Barclays PLC boosted their target price on Zillow Group from $32.00 to $34.00 and gave the stock an equal weight rating in a report on Friday, August 5th. Pacific Crest reissued a hold rating on shares of Zillow Group in a report on Friday, August 5th. Finally, Canaccord Genuity reissued a buy rating and issued a $40.00 target price (up from $34.00) on shares of Zillow Group in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $36.38.
Shares of Zillow Group (NASDAQ:ZG) opened at 32.88 on Wednesday. Zillow Group has a 1-year low of $16.45 and a 1-year high of $39.99. The stock’s 50 day moving average price is $33.98 and its 200 day moving average price is $32.20. The company’s market capitalization is $5.90 billion.
Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.68. The company had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.90 million. Zillow Group had a negative net margin of 34.51% and a negative return on equity of 9.25%. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. Analysts expect that Zillow Group will post ($0.56) EPS for the current year.
Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of Zillow Group by 6.4% in the third quarter. BNP Paribas Arbitrage SA now owns 10,695 shares of the company’s stock worth $368,000 after buying an additional 646 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Zillow Group by 26.1% in the second quarter. Public Employees Retirement System of Ohio now owns 10,582 shares of the company’s stock worth $388,000 after buying an additional 2,189 shares in the last quarter. Stifel Financial Corp acquired a new position in Zillow Group during the second quarter worth approximately $2,809,000. Amalgamated Bank acquired a new position in Zillow Group during the second quarter worth approximately $266,000. Finally, Legal & General Group Plc increased its position in Zillow Group by 67.4% in the second quarter. Legal & General Group Plc now owns 5,303 shares of the company’s stock worth $194,000 after buying an additional 2,135 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.