Zillow Group (ZG) Lowered to Underperform at Bank of America

Zillow Group (NASDAQ:ZG) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, The Fly reports.

A number of other equities research analysts also recently weighed in on ZG. Deutsche Bank cut their price target on Zillow Group from $45.00 to $39.00 and set a “hold” rating for the company in a research note on Monday, November 5th. Canaccord Genuity set a $50.00 price target on Zillow Group and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Benchmark cut their price target on Zillow Group from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 7th. Craig Hallum reaffirmed a “hold” rating and set a $35.00 price target on shares of Zillow Group in a research note on Wednesday, November 7th. Finally, Jefferies Financial Group cut their price target on Zillow Group from $52.00 to $37.00 and set a “hold” rating for the company in a research note on Wednesday, November 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.31.

Shares of Zillow Group stock opened at $35.06 on Friday. The stock has a market capitalization of $7.13 billion, a P/E ratio of 233.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 11.72 and a quick ratio of 11.43. Zillow Group has a 1 year low of $26.20 and a 1 year high of $65.42.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Thursday, February 21st. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.20. Zillow Group had a positive return on equity of 0.06% and a negative net margin of 7.94%. On average, research analysts forecast that Zillow Group will post -0.34 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Zillow Group by 206.5% during the 3rd quarter. Vanguard Group Inc. now owns 14,959,121 shares of the technology company’s stock worth $661,673,000 after buying an additional 10,077,908 shares during the period. Morgan Stanley lifted its position in shares of Zillow Group by 124.7% during the 3rd quarter. Morgan Stanley now owns 3,965,989 shares of the technology company’s stock worth $175,296,000 after buying an additional 2,201,039 shares during the period. Vanguard Group Inc lifted its position in shares of Zillow Group by 9.5% during the 3rd quarter. Vanguard Group Inc now owns 5,344,679 shares of the technology company’s stock worth $236,235,000 after buying an additional 463,466 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $8,703,000. Finally, Two Sigma Investments LP bought a new position in shares of Zillow Group during the 4th quarter worth approximately $6,137,000. 23.73% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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