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

Zacks Investment Research cut shares of Zillow Group, Inc. (NASDAQ:ZG) from a buy rating to a hold rating in a research report released on Tuesday, September 12th.

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. “

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada reiterated an outperform rating and issued a $49.00 price target (up from $48.00) on shares of Zillow Group in a research note on Thursday, August 10th. Canaccord Genuity raised their target price on shares of Zillow Group from $50.00 to $52.00 and gave the stock a buy rating in a report on Wednesday, August 9th. Needham & Company LLC raised their target price on shares of Zillow Group from $48.00 to $52.00 and gave the stock a buy rating in a report on Wednesday, August 9th. Susquehanna Bancshares Inc reissued a neutral rating on shares of Zillow Group in a report on Wednesday, May 17th. Finally, ValuEngine cut Zillow Group from a hold rating to a sell rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $45.07.

Zillow Group (NASDAQ:ZG) opened at 38.93 on Tuesday. The company’s market cap is $7.22 billion. Zillow Group has a 12 month low of $31.17 and a 12 month high of $50.91. The firm has a 50-day moving average price of $41.82 and a 200 day moving average price of $40.88.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. The company had revenue of $266.85 million during the quarter, compared to analysts’ expectations of $262.21 million. During the same period last year, the business earned ($0.71) earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. Equities research analysts predict that Zillow Group will post $0.50 EPS for the current year.

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Several institutional investors have recently bought and sold shares of ZG. UBS Asset Management Americas Inc. purchased a new position in shares of Zillow Group during the 4th quarter valued at $200,000. Teachers Advisors LLC lifted its stake in shares of Zillow Group by 9.2% in the 4th quarter. Teachers Advisors LLC now owns 48,482 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 4,100 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Zillow Group by 15.0% in the 1st quarter. Wells Fargo & Company MN now owns 17,632 shares of the technology company’s stock valued at $596,000 after purchasing an additional 2,304 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Zillow Group by 355.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 58,700 shares of the technology company’s stock valued at $1,985,000 after purchasing an additional 45,800 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Zillow Group in the 1st quarter valued at $547,000. Institutional investors and hedge funds own 26.13% of the company’s stock.

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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