Zillow Group (NASDAQ:ZG) Stock Price Target Cut by Cantor Fitzgerald

Zillow Group (NASDAQ:ZG) had its price objective decreased by equities researchers at Cantor Fitzgerald from $32.00 to $26.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald‘s price target indicates a potential downside of 14.36% from the stock’s previous close.

ZG has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. Citigroup lowered their target price on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Sanford C. Bernstein cut shares of Zillow Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $50.00 to $38.00 in a research report on Thursday, August 6th. KeyCorp cut their price target on Zillow Group from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 price target on Zillow Group in a research note on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Hold” and a consensus price target of $48.14.

Zillow Group Stock Down 2.7%

Shares of NASDAQ:ZG opened at $30.36 on Thursday. Zillow Group has a twelve month low of $27.25 and a twelve month high of $74.80. The stock’s 50 day moving average is $31.60 and its 200-day moving average is $38.51. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -58.38, a PEG ratio of 1.40 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.05). The business had revenue of $724.00 million during the quarter, compared to analyst estimates of $753.66 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Equities research analysts anticipate that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 3,169 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the transaction, the insider owned 44,561 shares in the company, valued at $1,576,122.57. The trade was a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the transaction, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. This represents a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 sold a total of 38,539 shares of company stock worth $1,323,800 in the last ninety days. 29.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in Zillow Group by 92.9% in the third quarter. Russell Investments Group Ltd. now owns 149,517 shares of the technology company’s stock valued at $4,142,000 after purchasing an additional 71,996 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Zillow Group in the third quarter worth $1,415,000. Fulcrum Asset Management LLP purchased a new stake in Zillow Group in the third quarter worth $399,000. Brighton Jones LLC bought a new stake in shares of Zillow Group in the third quarter valued at $231,000. Finally, Parallel Advisors LLC raised its stake in shares of Zillow Group by 244.8% in the third quarter. Parallel Advisors LLC now owns 2,200 shares of the technology company’s stock valued at $61,000 after buying an additional 1,562 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Zillow Group

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

• Neutral Sentiment: Zillow said its COO and CFO will take part in a fireside chat at the RBC Capital Markets technology conference on Nov. 17; the announcement does not include new financial guidance. Conference announcement
• Neutral Sentiment: Although UBS retained a Buy rating and Canaccord a Hold, both lowered their price targets—to $43 from $48 and $34 from $40, respectively. Other firms also cut targets, with ratings ranging from Overweight to Equal Weight and Neutral, reflecting mixed views. Read More. · Read More.
• Negative Sentiment: Zillow’s third-quarter results missed estimates: adjusted earnings were $0.55 per share versus $0.60 expected, while revenue of $724 million came in below the roughly $754 million consensus. Revenue still rose 7.1% year over year, but the shortfall likely weighed on investor sentiment. Q3 results
• Negative Sentiment: Housing activity weakened in October: newly pending listings fell 16.8% year over year, the steepest decline since August 2023, and Zillow’s preliminary measure of existing-home sales dropped 8.7%. Softer transaction activity could constrain Zillow’s marketplace and related revenue opportunities. October housing market report

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.