Cantor Fitzgerald Issues Pessimistic Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its target price dropped by Cantor Fitzgerald from $56.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 4.03% from the company’s current price.

ZG has been the topic of several other research reports. Sanford C. Bernstein cut their target price on Zillow Group from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. BNP Paribas Exane started coverage on Zillow Group in a research report on Wednesday, January 14th. They set an “outperform” rating and a $85.00 target price for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a research report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 10th. Finally, KeyCorp decreased their price objective on shares of Zillow Group from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Fourteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.05.

Zillow Group Price Performance

Shares of Zillow Group stock traded down $0.87 on Wednesday, hitting $44.22. 33,712 shares of the company’s stock traded hands, compared to its average volume of 1,165,541. The firm’s 50-day moving average price is $51.78 and its two-hundred day moving average price is $64.93. The stock has a market capitalization of $10.61 billion, a PE ratio of 491.35, a price-to-earnings-growth ratio of 2.50 and a beta of 2.05. Zillow Group has a one year low of $40.69 and a one year high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, analysts forecast that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other news, CFO Jeremy Hofmann sold 7,786 shares of Zillow Group stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the transaction, the chief financial officer owned 57,487 shares in the company, valued at $2,513,906.51. The trade was a 11.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Wacksman sold 13,661 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the transaction, the chief executive officer owned 116,322 shares of the company’s stock, valued at $5,147,248.50. This represents a 10.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 60,801 shares of company stock valued at $2,683,986. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Zillow Group during the second quarter valued at approximately $159,770,000. MFG Wealth Management Inc. acquired a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $1,493,000. Aberdeen Group plc bought a new position in shares of Zillow Group in the third quarter valued at $2,529,000. Y Intercept Hong Kong Ltd acquired a new position in Zillow Group during the third quarter worth $1,443,000. Finally, Tabor Asset Management LP bought a new stake in Zillow Group during the third quarter worth $2,428,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.