Zillow Group, Inc. (NASDAQ:ZG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned an average recommendation of “Moderate Buy” from the twenty-six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $69.4762.

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Zillow Group from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Canaccord Genuity Group decreased their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Zacks Research upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. Citigroup reissued a “market outperform” rating on shares of Zillow Group in a report on Tuesday, May 26th. Finally, UBS Group cut their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $33.21 on Friday. The business’s 50-day moving average is $35.64 and its 200 day moving average is $46.45. Zillow Group has a 1 year low of $29.03 and a 1 year high of $90.22. The firm has a market capitalization of $7.60 billion, a P/E ratio of 132.84, a P/E/G ratio of 1.37 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. During the same quarter last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, analysts expect that Zillow Group will post 0.9 EPS for the current year.

Zillow Group News Summary

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

• Positive Sentiment: Zacks Research upgraded Zillow Group from “hold” to “strong-buy,” which can support investor confidence and suggest Wall Street sees better upside ahead.
• Positive Sentiment: Zillow launched Zillow Pro, a new membership that gives agents access to consumer-insight tools and lets them collaborate more directly with buyers and sellers, potentially improving engagement and monetization. Article title
• Neutral Sentiment: Several law firms issued reminders about an August 10 lead-plaintiff deadline in an ongoing securities class action against Zillow tied to alleged anticompetitive conduct and related regulatory risks. These notices are mainly legal updates, but they can weigh on investor sentiment because they keep the lawsuit in focus. Article title
• Neutral Sentiment: Additional shareholder-alert articles repeated the same lawsuit deadline and lead-plaintiff solicitation, reinforcing legal overhang but not adding new company-specific fundamentals. Article title
• Negative Sentiment: New securities-fraud lawsuit notices from multiple firms may add headline risk and keep attention on potential legal exposure, which can be a drag on the stock even if no new allegations were filed today. Article title

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the completion of the sale, the insider owned 49,696 shares of the company’s stock, valued at $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 9,072 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 42,910 shares of company stock worth $1,605,732. 29.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently bought and sold shares of the business. Polianta Ltd boosted its holdings in shares of Zillow Group by 60.9% in the 2nd quarter. Polianta Ltd now owns 58,100 shares of the technology company’s stock valued at $1,822,000 after acquiring an additional 22,000 shares during the last quarter. MFG Wealth Management Inc. purchased a new position in shares of Zillow Group during the second quarter worth $2,146,000. Assenagon Asset Management S.A. purchased a new position in shares of Zillow Group during the second quarter worth $1,546,000. NewEdge Advisors LLC lifted its position in Zillow Group by 6.7% during the first quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company’s stock valued at $458,000 after purchasing an additional 699 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Zillow Group during the first quarter valued at $398,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.