Zillow Group Inc. (NASDAQ:ZG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
ZG has been the subject of a number of other reports. Susquehanna restated a “neutral” rating and set a $35.00 price objective (up from $30.00) on shares of Zillow Group in a research note on Monday, August 8th. Deutsche Bank AG increased their price objective on shares of Zillow Group from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Mizuho increased their price objective on shares of Zillow Group from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. RBC Capital Markets increased their price objective on shares of Zillow Group to $42.00 in a research note on Friday, August 5th. Finally, Cowen and Company restated a “market perform” rating and set a $37.00 price objective (up from $29.00) on shares of Zillow Group in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Zillow Group has a consensus rating of “Hold” and an average target price of $36.38.
Zillow Group (NASDAQ:ZG) opened at 32.00 on Wednesday. The stock has a 50 day moving average price of $34.06 and a 200-day moving average price of $31.99. The company’s market capitalization is $5.74 billion. Zillow Group has a 1-year low of $16.45 and a 1-year high of $39.99.
Zillow Group (NASDAQ:ZG) last announced its earnings results on Thursday, August 4th. The company reported ($0.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.68. The company earned $208.40 million during the quarter, compared to analyst estimates of $205.90 million. Zillow Group had a negative return on equity of 9.25% and a negative net margin of 34.51%. The firm’s revenue was up 31.3% on a year-over-year basis. Equities analysts predict that Zillow Group will post ($0.56) earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caledonia Private Investments Pty Ltd acquired a new position in shares of Zillow Group during the first quarter valued at approximately $332,231,000. Wellington Management Group LLP purchased a new stake in Zillow Group during the first quarter valued at about $135,750,000. BlackRock Institutional Trust Company N.A. purchased a new stake in Zillow Group during the first quarter valued at about $26,596,000. 1832 Asset Management L.P. purchased a new stake in Zillow Group during the second quarter valued at about $24,431,000. Finally, Friess Associates LLC purchased a new stake in Zillow Group during the second quarter valued at about $11,911,000. 29.86% of the stock is currently owned by institutional investors.
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