Zillow Group, Inc. (NASDAQ:ZG) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $48.14.

A number of research firms recently weighed in on ZG. Canaccord Genuity Group decreased their target price on Zillow Group from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday. DA Davidson cut their price target on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Zacks Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Sanford C. Bernstein dropped their price objective on Zillow Group from $38.00 to $34.00 and set a “market perform” rating for the company in a report on Thursday.

Key Zillow Group News

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

• Neutral Sentiment: Zillow said its COO and CFO will take part in a fireside chat at the RBC Capital Markets technology conference on Nov. 17; the announcement does not include new financial guidance. Conference announcement
• Neutral Sentiment: Although UBS retained a Buy rating and Canaccord a Hold, both lowered their price targets—to $43 from $48 and $34 from $40, respectively. Other firms also cut targets, with ratings ranging from Overweight to Equal Weight and Neutral, reflecting mixed views. Read More. · Read More.
• Negative Sentiment: Zillow’s third-quarter results missed estimates: adjusted earnings were $0.55 per share versus $0.60 expected, while revenue of $724 million came in below the roughly $754 million consensus. Revenue still rose 7.1% year over year, but the shortfall likely weighed on investor sentiment. Q3 results
• Negative Sentiment: Housing activity weakened in October: newly pending listings fell 16.8% year over year, the steepest decline since August 2023, and Zillow’s preliminary measure of existing-home sales dropped 8.7%. Softer transaction activity could constrain Zillow’s marketplace and related revenue opportunities. October housing market report

Insider Buying and Selling at Zillow Group

In related news, CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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, insider Errol Samuelson sold 3,154 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $107,992.96. Following the sale, the insider directly owned 130,885 shares of the company’s stock, valued at $4,481,502.40. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 38,539 shares of company stock valued at $1,323,800. 29.88% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

Institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in Zillow Group during the second quarter valued at approximately $29,000. Ninety One SA Pty Ltd acquired a new stake in shares of Zillow Group during the third quarter worth $26,000. EverSource Wealth Advisors LLC raised its holdings in Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after buying an additional 637 shares during the period. Fifth Third Bancorp boosted its position in Zillow Group by 990.3% during the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after acquiring an additional 921 shares during the period. Finally, Nykredit A S bought a new stake in Zillow Group during the second quarter valued at about $65,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $30.36 on Friday. The firm has a market capitalization of $6.83 billion, a PE ratio of -58.38, a price-to-earnings-growth ratio of 1.40 and a beta of 1.95. Zillow Group has a one year low of $27.25 and a one year high of $74.80. The stock’s 50 day moving average price is $31.60 and its 200 day moving average price is $38.51.

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

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.