Zacks Investment Research cut shares of Zillow Group, Inc. (NASDAQ:ZG) from a buy rating to a hold rating in a report released on Tuesday 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. “
A number of other research analysts have also recently commented on ZG. Royal Bank Of Canada reaffirmed an outperform rating and set a $49.00 target price (up previously from $48.00) on shares of Zillow Group in a research note on Thursday, August 10th. Canaccord Genuity upped their target price on Zillow Group from $50.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, August 9th. Needham & Company LLC upped their target price on Zillow Group from $48.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, August 9th. ValuEngine cut Zillow Group from a hold rating to a sell rating in a research note on Wednesday, September 6th. Finally, Susquehanna Bancshares Inc reissued a neutral rating on shares of Zillow Group in a research note on Wednesday, May 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $45.07.
Shares of Zillow Group (ZG) opened at 40.62 on Tuesday. The stock has a 50 day moving average price of $41.82 and a 200-day moving average price of $40.88. Zillow Group has a 12 month low of $31.17 and a 12 month high of $50.91. The company’s market capitalization is $7.53 billion.
Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, August 8th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $266.85 million for the quarter, compared to the consensus estimate of $262.21 million. Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.71) EPS. Analysts expect that Zillow Group will post $0.49 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Zillow Group during the 2nd quarter valued at $819,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Zillow Group by 8.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,524 shares of the technology company’s stock valued at $856,000 after purchasing an additional 1,406 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of Zillow Group by 6.4% during the 2nd quarter. Verition Fund Management LLC now owns 9,363 shares of the technology company’s stock valued at $457,000 after purchasing an additional 566 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of Zillow Group during the 2nd quarter valued at $4,132,000. Finally, Caledonia Private Investments Pty Ltd lifted its holdings in shares of Zillow Group by 2.0% during the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 13,628,910 shares of the technology company’s stock valued at $667,953,000 after purchasing an additional 268,722 shares during the last quarter. Institutional investors own 26.13% of the company’s stock.
About Zillow Group
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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