Zillow Group (ZG) Downgraded to “Underweight” at Barclays

Barclays cut shares of Zillow Group (NASDAQ:ZG) from an equal weight rating to an underweight rating in a research note published on Thursday morning, The Fly reports. Barclays currently has $36.67 target price on the technology company’s stock.

Other research analysts have also issued reports about the company. ValuEngine upgraded Zillow Group from a sell rating to a hold rating in a report on Saturday, February 23rd. Canaccord Genuity set a $42.00 target price on Zillow Group and gave the stock a buy rating in a report on Friday, February 22nd. Wedbush lifted their target price on Zillow Group from $30.00 to $39.00 and gave the stock a neutral rating in a report on Wednesday, February 27th. They noted that the move was a valuation call. Zacks Investment Research lowered Zillow Group from a buy rating to a hold rating in a report on Saturday, February 16th. Finally, Bank of America lowered Zillow Group from a neutral rating to an underperform rating in a report on Friday, February 22nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $44.67.

Shares of NASDAQ:ZG traded down $0.60 during midday trading on Thursday, hitting $37.01. The company had a trading volume of 329,597 shares, compared to its average volume of 888,492. Zillow Group has a 12 month low of $26.20 and a 12 month high of $65.42. The company has a quick ratio of 6.02, a current ratio of 6.58 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $7.97 billion, a P/E ratio of -142.35 and a beta of 1.29.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. Zillow Group had a negative return on equity of 1.63% and a negative net margin of 8.99%. The business had revenue of $365.34 million for the quarter, compared to analyst estimates of $349.46 million. As a group, equities research analysts expect that Zillow Group will post -1.4 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Oppenheimer & Co. Inc. increased its position in Zillow Group by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 9,760 shares of the technology company’s stock worth $307,000 after buying an additional 475 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Zillow Group by 0.4% during the third quarter. TIAA CREF Investment Management LLC now owns 142,721 shares of the technology company’s stock worth $6,308,000 after buying an additional 601 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Zillow Group during the fourth quarter worth approximately $25,000. Resources Investment Advisors Inc. acquired a new position in Zillow Group during the fourth quarter worth approximately $47,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Zillow Group by 3.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,888 shares of the technology company’s stock worth $2,780,000 after buying an additional 1,980 shares during the last quarter. 24.82% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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