Zillow Group (NASDAQ:ZG) Stock Gets Price Target Trim from Royal Bank Of Canada

Zillow Group (NASDAQ:ZG) had its price objective trimmed by Royal Bank Of Canada from $55.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other analysts have also recently commented on the company. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research report on Monday, August 24th. Wells Fargo & Company set a $21.00 price objective on Zillow Group in a report on Monday, October 12th. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Zillow Group in a research note on Monday, August 24th. Weiss Ratings restated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Finally, Canaccord Genuity Group decreased their target price on Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.95.

Zillow Group Trading Down 9.4%

NASDAQ:ZG opened at $31.21 on Tuesday. Zillow Group has a 12 month low of $27.25 and a 12 month high of $74.80. The firm has a fifty day simple moving average of $31.72 and a 200-day simple moving average of $38.68. The company has a market capitalization of $7.02 billion, a P/E ratio of -60.02, a PEG ratio of 1.47 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, November 4th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.05). The firm had revenue of $724.00 million during the quarter, compared to analyst estimates of $753.66 million. Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.18%. Zillow Group’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. Equities analysts forecast that Zillow Group will post 0.91 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, insider Dan Spaulding sold 3,169 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the transaction, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. The trade was a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the transaction, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. This trade represents a 6.31% decrease in their position. 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. In the last three months, insiders have sold 38,539 shares of company stock worth $1,323,800. Insiders own 29.88% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kahn Brothers Group Inc. acquired a new stake in Zillow Group during the second quarter valued at $22,560,872,000. Technology Crossover Management XI Ltd. purchased a new position in Zillow Group in the second quarter valued at $73,694,895. Dimensional Fund Advisors LP raised its position in shares of Zillow Group by 18.2% in the first quarter. Dimensional Fund Advisors LP now owns 554,460 shares of the technology company’s stock worth $22,947,000 after acquiring an additional 85,367 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Zillow Group by 724.4% in the third quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock worth $11,257,000 after acquiring an additional 357,104 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Zillow Group by 106.6% during the 1st quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock worth $7,287,000 after acquiring an additional 90,858 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group News Roundup

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

• Positive Sentiment: Piper Sandler kept its “overweight” rating and Citizens JMP maintained “market outperform”; although both lowered their price targets, the new targets of $39 and $40 remain above the recent share price. Piper Sandler analyst update Citizens JMP analyst update
• Neutral Sentiment: Third-quarter revenue increased 7.1% year over year to $724 million, with rentals helping cushion weakness in home sales. That growth was below analysts’ $753.7 million estimate. Zillow revenue and rentals report
• Negative Sentiment: Zillow reported Q3 adjusted earnings of $0.55 per share, below the $0.60 consensus, while revenue also missed expectations. The shortfall weighed on sentiment despite earnings being higher than a year earlier. Zillow Q3 earnings results
• Negative Sentiment: Zillow’s October market report showed preliminary existing-home sales down 8.7% year over year and newly pending listings down 16.8%—the steepest annual decline since August 2023. A weaker sales pipeline could constrain future industry activity and Zillow’s growth. Zillow October Market Report
• Negative Sentiment: Several firms reduced their targets: Wells Fargo cut its target to $30 and kept an “equal weight” rating; Bernstein lowered its target to $34 with “market perform”; Cantor Fitzgerald cut to $26 and “neutral.” These reductions reinforce concerns about near-term upside. Analyst target changes

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.