Zillow Group, Inc. (NASDAQ:Z) Receives $72.38 Consensus Price Target from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:Z) have been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $68.50.

A number of analysts have commented on Z shares. Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Evercore cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley set a $60.00 target price on shares of Zillow Group in a report on Thursday. Finally, UBS Group lowered their price target on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th.

Zillow Group Stock Up 0.5%

NASDAQ:Z opened at $33.61 on Monday. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 152.78, a PEG ratio of 1.43 and a beta of 1.98. The company’s 50 day moving average price is $33.05 and its 200-day moving average price is $41.54. Zillow Group has a 52 week low of $29.23 and a 52 week high of $93.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. As a group, sell-side analysts anticipate that Zillow Group will post 0.9 earnings per share for the current year.

Trending Headlines about Zillow Group

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

• Positive Sentiment: Zillow reported second-quarter adjusted earnings of $0.52 per share, above the roughly $0.44–$0.45 consensus estimate, while revenue of $772 million also exceeded expectations. Revenue increased 18% year over year, providing evidence of continued business growth. Zillow Q2 earnings beat
• Positive Sentiment: July home sales rose 7% year over year, the strongest annual increase of the year, potentially supporting Zillow’s transaction-related businesses. Zillow July market report

Insider Buying and Selling at Zillow Group

In related news, General Counsel Bradley D. Owens sold 3,364 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $37.23, for a total transaction of $125,241.72. Following the completion of the transaction, the general counsel directly owned 65,245 shares in the company, valued at approximately $2,429,071.35. The trade was a 4.90% decrease in their position. The sale was disclosed in a legal filing 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, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 49,696 shares of the company’s stock, valued at approximately $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 42,910 shares of company stock worth $1,605,732. Insiders own 25.03% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in Z. Assenagon Asset Management S.A. boosted its stake in Zillow Group by 11.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 303,930 shares of the financial services provider’s stock worth $9,580,000 after purchasing an additional 32,387 shares during the period. Arlington Partners LLC increased its holdings in shares of Zillow Group by 22.5% in the 2nd quarter. Arlington Partners LLC now owns 7,235 shares of the financial services provider’s stock worth $228,000 after buying an additional 1,327 shares during the last quarter. CX Institutional purchased a new stake in Zillow Group during the second quarter valued at approximately $110,000. NewEdge Advisors LLC raised its position in Zillow Group by 2.0% during the first quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock valued at $1,575,000 after purchasing an additional 750 shares during the period. Finally, Centaurus Financial Inc. bought a new stake in shares of Zillow Group in the 1st quarter valued at approximately $166,000. Institutional investors own 71.01% of the company’s stock.

About Zillow Group

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.