Zillow Group, Inc. (NASDAQ:Z) Receives $76.00 Consensus Target Price from Analysts

Zillow Group, Inc. (NASDAQ:ZGet Free Report) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $76.00.

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Zacks Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, May 7th.

View Our Latest Report on Zillow Group

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the sale, the insider owned 49,696 shares in the company, valued at approximately $1,858,630.40. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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, General Counsel Bradley D. Owens sold 3,364 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $37.23, for a total value of $125,241.72. Following the completion of the sale, the general counsel owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 42,910 shares of company stock valued at $1,605,732 in the last ninety days. 25.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jain Global LLC acquired a new stake in Zillow Group in the 3rd quarter valued at approximately $6,220,000. Coronation Fund Managers Ltd. acquired a new stake in Zillow Group in the 3rd quarter valued at approximately $18,141,000. Vanguard Group Inc. raised its position in Zillow Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after buying an additional 71,336 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Zillow Group by 228.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 470,288 shares of the financial services provider’s stock valued at $32,083,000 after buying an additional 327,076 shares during the last quarter. Finally, Hidden Lake Asset Management LP acquired a new stake in Zillow Group in the 3rd quarter valued at approximately $4,127,000. Institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Up 0.3%

Z stock opened at $32.11 on Friday. The company has a market cap of $7.35 billion, a P/E ratio of 128.44, a PEG ratio of 1.37 and a beta of 1.97. Zillow Group has a twelve month low of $31.48 and a twelve month high of $93.88. The business has a fifty day moving average of $39.02 and a 200-day moving average of $50.85.

Zillow Group (NASDAQ:ZGet Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, equities research analysts anticipate that Zillow Group will post 0.9 earnings per share for the current fiscal year.

Key Zillow Group News

Here are the key news stories impacting Zillow Group this week:

  • Positive Sentiment: Zillow also highlighted a favorable housing affordability trend, saying 74% of rental listings on Zillow in May were affordable to a median-income household, the highest share ever for that time of year, which could support engagement and renter demand. Article Title
  • Neutral Sentiment: A Zacks note called Zillow a “strong growth stock,” but the item is promotional and did not add new fundamental information. Article Title
  • Negative Sentiment: Several law firms said a securities class action has been filed against Zillow, alleging investor harm and violations of federal securities laws during the class period. Article Title
  • Negative Sentiment: Additional notices say the lawsuit centers on an alleged anticompetitive agreement and related regulatory risks, raising the possibility of further legal and financial exposure for Zillow. Article Title

About Zillow Group

(Get Free Report)

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

Further Reading

Analyst Recommendations for Zillow Group (NASDAQ:Z)

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