Zacks Investment Research Downgrades Zillow Group, Inc. (ZG) to Hold

Zacks Investment Research lowered shares of Zillow Group, Inc. (NASDAQ:ZG) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “

Several other equities analysts have also recently weighed in on ZG. Cowen and Company lifted their price objective on Zillow Group from $37.00 to $40.00 and gave the company a market perform rating in a report on Monday, May 15th. Susquehanna Bancshares Inc reaffirmed a neutral rating on shares of Zillow Group in a report on Wednesday, May 17th. Stephens reaffirmed an overweight rating and issued a $54.00 price objective (up from $48.00) on shares of Zillow Group in a report on Monday, June 19th. Bank of America Corporation reaffirmed a buy rating and issued a $53.00 price objective (up from $45.00) on shares of Zillow Group in a report on Wednesday, June 21st. Finally, Craig Hallum reissued a buy rating on shares of Zillow Group in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Zillow Group has an average rating of Hold and an average price target of $45.07.

Shares of Zillow Group (NASDAQ ZG) opened at 40.15 on Tuesday. Zillow Group has a one year low of $31.17 and a one year high of $50.91. The stock’s 50 day moving average price is $41.82 and its 200 day moving average price is $40.88. The company’s market cap is $7.45 billion.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.11). The company had revenue of $266.85 million during the quarter, compared to analyst estimates of $262.21 million. Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. Zillow Group’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.71) earnings per share. Equities analysts predict that Zillow Group will post $0.49 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement Association of Colorado increased its holdings in Zillow Group by 0.5% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,054 shares of the technology company’s stock worth $296,000 after purchasing an additional 29 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in Zillow Group by 0.8% in the 2nd quarter. Tudor Investment Corp ET AL now owns 25,597 shares of the technology company’s stock worth $1,250,000 after purchasing an additional 211 shares in the last quarter. Rhumbline Advisers increased its holdings in Zillow Group by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 53,487 shares of the technology company’s stock worth $2,612,000 after purchasing an additional 226 shares in the last quarter. Aperio Group LLC increased its holdings in Zillow Group by 1.4% in the 2nd quarter. Aperio Group LLC now owns 16,405 shares of the technology company’s stock worth $801,000 after purchasing an additional 232 shares in the last quarter. Finally, Utah Retirement Systems increased its holdings in Zillow Group by 3.2% in the 2nd quarter. Utah Retirement Systems now owns 9,600 shares of the technology company’s stock worth $469,000 after purchasing an additional 300 shares in the last quarter. 26.13% of the stock is owned by institutional investors and hedge funds.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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