Zillow Group, Inc. (ZG) Stock Rating Lowered by Zacks Investment Research

Zillow Group, Inc. (NASDAQ:ZG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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. “

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada reduced their price target on Zillow Group to $40.00 in a research report on Wednesday, February 8th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective (up from $41.00) on shares of Zillow Group in a research note on Friday, May 5th. Benchmark Co. boosted their price objective on Zillow Group from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Stifel Nicolaus raised Zillow Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $43.00 in a research note on Tuesday, February 14th. Finally, Morgan Stanley downgraded Zillow Group from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective on the stock. in a research note on Friday, January 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Zillow Group has an average rating of “Hold” and a consensus price target of $39.69.

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG) opened at 43.09 on Thursday. The company has a 50-day moving average price of $36.94 and a 200 day moving average price of $36.02. Zillow Group has a 12-month low of $26.77 and a 12-month high of $44.13. The company’s market cap is $7.89 billion.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.08. Zillow Group had a negative net margin of 26.04% and a negative return on equity of 7.24%. The company had revenue of $245.80 million during the quarter, compared to the consensus estimate of $236.04 million. During the same quarter last year, the firm posted ($0.13) EPS. The company’s quarterly revenue was up 32.2% on a year-over-year basis. On average, analysts forecast that Zillow Group will post $0.45 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wisconsin Investment Board increased its position in Zillow Group by 62.7% in the third quarter. State of Wisconsin Investment Board now owns 542,190 shares of the technology company’s stock worth $18,678,000 after buying an additional 208,893 shares during the period. BlackRock Advisors LLC increased its position in Zillow Group by 20.9% in the third quarter. BlackRock Advisors LLC now owns 33,672 shares of the technology company’s stock worth $1,160,000 after buying an additional 5,821 shares during the period. TIAA CREF Investment Management LLC increased its position in Zillow Group by 1.0% in the third quarter. TIAA CREF Investment Management LLC now owns 151,663 shares of the technology company’s stock worth $5,225,000 after buying an additional 1,450 shares during the period. Rhumbline Advisers increased its position in Zillow Group by 9.1% in the third quarter. Rhumbline Advisers now owns 46,268 shares of the technology company’s stock worth $1,594,000 after buying an additional 3,856 shares during the period. Finally, California State Teachers Retirement System increased its position in Zillow Group by 0.9% in the third quarter. California State Teachers Retirement System now owns 110,289 shares of the technology company’s stock worth $3,799,000 after buying an additional 1,000 shares during the period. 27.41% of the stock is currently owned by institutional investors and hedge funds.

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