Zillow Group (NASDAQ:ZG) Stock Price Target Cut by Cantor Fitzgerald

Zillow Group (NASDAQ:ZG) had its price target decreased by equities research analysts at Cantor Fitzgerald from $32.00 to $26.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald‘s price objective suggests a potential downside of 24.53% from the company’s previous close.

A number of other equities analysts have also recently weighed in on ZG. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada dropped their price objective on Zillow Group from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday. Benchmark reiterated a “buy” rating on shares of Zillow Group in a report on Monday, August 24th. KeyCorp decreased their target price on Zillow Group from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 price target on Zillow Group in a report on Monday, August 24th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.81.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $34.45 on Thursday. The firm’s 50 day simple moving average is $31.82 and its 200 day simple moving average is $38.87. Zillow Group has a fifty-two week low of $27.25 and a fifty-two week high of $74.80. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 156.60, a P/E/G ratio of 1.34 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, November 4th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $724.00 million during the quarter, compared to the consensus estimate of $753.66 million. During the same period in the previous year, the company posted $0.44 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts expect that Zillow Group will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In related news, CEO Jeremy Wacksman sold 9,339 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the sale, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. The trade was a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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. Also, Director Erik Blachford sold 792 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $28,282.32. Following the completion of the transaction, the director directly owned 34,160 shares of the company’s stock, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,539 shares of company stock valued at $1,323,800 over the last quarter. 29.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of ZG. Engineers Gate Manager LP lifted its holdings in shares of Zillow Group by 1,290.7% in the second quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock valued at $3,010,000 after purchasing an additional 89,059 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Zillow Group during the second quarter worth about $1,614,000. MFG Wealth Management Inc. bought a new position in shares of Zillow Group during the second quarter worth about $2,146,000. Assenagon Asset Management S.A. grew its holdings in shares of Zillow Group by 724.4% during the third quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock worth $11,257,000 after buying an additional 357,104 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in Zillow Group in the 2nd quarter valued at approximately $2,015,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Key Zillow Group News

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

• Positive Sentiment: Rentals helped offset weakness in home sales: third-quarter revenue grew 7.1% year over year to $724 million, and earnings rose to $0.55 per share from $0.44 a year earlier. Zillow Revenue Rises as Rentals Help Offset Weak Market for Home Sales
• Neutral Sentiment: Despite cutting its price target from $48 to $42, KeyCorp retained an “overweight” rating; RBC also lowered its target, from $55 to $45, while keeping an “outperform” rating. Both targets remain above the share price cited in the coverage. KeyCorp Issues Pessimistic Forecast for Zillow Group RBC analyst rating
• Negative Sentiment: Zillow missed Q3 consensus estimates: EPS was $0.55 versus $0.60 expected, and revenue was $724 million versus about $754 million expected. The shortfall may weigh on sentiment despite growth from a year earlier. Zillow Group Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: Management described housing conditions as exceptionally challenging, with weak home-sale activity. The combination of a tough market and analyst target reductions reinforces concerns about near-term growth and valuation. Zillow Group Stock Sees Modest Fair Value Cut As Analysts Turn More Cautious

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.