Zillow Group, Inc. (NASDAQ:Z) Receives $93.83 Consensus Price Target from Analysts

Zillow Group, Inc. (NASDAQ:Z) has been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $90.60.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Keefe, Bruyette & Woods cut their price target on Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a research report on Monday, February 9th. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Finally, Zelman & Associates raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday.

Zillow Group Stock Down 0.8%

Shares of Zillow Group stock opened at $43.45 on Monday. Zillow Group has a 52 week low of $42.50 and a 52 week high of $93.88. The firm’s 50 day moving average is $65.62 and its two-hundred day moving average is $73.82. The firm has a market capitalization of $10.52 billion, a P/E ratio of 482.83, a P/E/G ratio of 3.23 and a beta of 2.08.

Zillow Group (NASDAQ:Z) last issued its earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. As a group, research analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO David A. Beitel sold 3,966 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.22, for a total transaction of $175,376.52. Following the completion of the sale, the chief technology officer owned 136,690 shares in the company, valued at approximately $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jun Choo sold 2,061 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.23, for a total value of $91,158.03. Following the transaction, the chief operating officer directly owned 108,927 shares in the company, valued at approximately $4,817,841.21. This represents a 1.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,753 shares of company stock valued at $1,148,029 in the last quarter. Corporate insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in Z. Empowered Funds LLC boosted its stake in shares of Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after buying an additional 171 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock valued at $1,407,000 after acquiring an additional 3,653 shares during the period. Truist Financial Corp boosted its position in shares of Zillow Group by 133.7% during the 2nd quarter. Truist Financial Corp now owns 7,816 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 4,471 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Zillow Group by 425.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,376 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 1,924 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of Zillow Group by 9.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 7,903 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 652 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Trending Headlines about Zillow Group

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

• Positive Sentiment: Zelman & Associates upgraded Zillow from “hold” to “strong-buy,” giving the stock a near-term bullish analyst catalyst. Zacks Zelman Upgrade
• Positive Sentiment: Some investors/analysts view the pullback as a buying opportunity — a Seeking Alpha piece argues AI competition is not an existential threat and recommends buying the plunge, which could support bargain-hunters. Seeking Alpha: Buy The Plunge
• Neutral Sentiment: Q4 revenue of about $654M slightly topped Wall Street’s estimate, a mild positive for top-line momentum but not enough to offset the EPS miss. Benzinga: Earnings Recap
• Negative Sentiment: Zillow missed on adjusted EPS ($0.39 vs. $0.42 expected), which is the primary driver cited for the recent selloff and the weekly/near-term price weakness. Benzinga: Earnings Miss
• Negative Sentiment: The stock has hit a new 52?week / 12?month low, reflecting investor concern and technical weakness that can prompt further selling. Investing.com: 52-Week Low
• Negative Sentiment: Multiple insiders — including the general counsel, CTO, COO and CAO — sold shares in mid?February, which may be interpreted negatively by the market even if the trades are routine. (SEC filings disclose the trades.) SEC Form 4 Insider Sales
• Negative Sentiment: Ongoing litigation and related disclosures remain a drag on sentiment and are cited in coverage as an additional headwind for the stock. MSN: Litigation Pressure
• Negative Sentiment: Broader analyst and media coverage highlights the projected earnings shortfall as the catalyst for the sharp weekly decline, reinforcing negative sentiment. The Motley Fool: Why Stock Dropped

Zillow Group Company Profile

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.