Zillow Group (NASDAQ:ZG) Given New $32.00 Price Target at Cantor Fitzgerald

Zillow Group (NASDAQ:ZG) had its target price dropped by analysts at Cantor Fitzgerald from $34.00 to $32.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s target price suggests a potential downside of 13.26% from the company’s previous close.

A number of other research firms have also recently issued reports on ZG. Weiss Ratings cut Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. KeyCorp reduced their target price on Zillow Group from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company lifted their price target on shares of Zillow Group from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Citigroup reissued a “buy” rating on shares of Zillow Group in a report on Thursday. Finally, Mizuho dropped their price objective on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Zillow Group presently has a consensus rating of “Hold” and a consensus target price of $61.90.

Zillow Group Stock Down 0.4%

ZG stock opened at $36.89 on Thursday. Zillow Group has a twelve month low of $29.03 and a twelve month high of $90.22. The company has a market cap of $8.44 billion, a PE ratio of 147.56, a price-to-earnings-growth ratio of 1.58 and a beta of 1.95. The business’s 50-day simple moving average is $33.23 and its 200 day simple moving average is $41.83.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities research analysts anticipate that Zillow Group will post 0.9 EPS for the current year.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 5,501 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the sale, the chief financial officer owned 68,315 shares in the company, valued at approximately $2,554,981. This trade represents a 7.45% 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 C. Blachford sold 791 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $34.80, for a total transaction of $27,526.80. Following the transaction, the director owned 34,952 shares in the company, valued at $1,216,329.60. The trade was a 2.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 42,910 shares of company stock worth $1,605,732. 29.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Arax Advisory Partners raised its stake in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in Zillow Group in the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in shares of Zillow Group by 183.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after buying an additional 637 shares during the period. Fifth Third Bancorp raised its position in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after acquiring an additional 921 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in Zillow Group during the fourth quarter valued at approximately $47,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group News Roundup

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

• Positive Sentiment: Zillow reported second-quarter adjusted earnings of $0.52 per share, above the $0.44 analyst consensus, while revenue rose 17.9% year over year to $772 million, exceeding estimates of approximately $758 million. Zillow Group Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: KeyBanc maintained its Buy rating, signaling continued analyst support following the quarterly results. KeyBanc Maintains Buy Rating
• Neutral Sentiment: Zillow expanded Chief Financial Officer Jeremy Hofmann’s responsibilities to include chief operating officer and appointed Cassandra Knight as its first chief legal and policy officer. The changes are intended to support the company’s housing “super app” strategy but add to leadership-transition uncertainty. Zillow Strengthens Executive Leadership Team
• Negative Sentiment: Third-quarter revenue guidance of $745 million to $760 million fell below the $772.3 million consensus estimate. Full-year revenue guidance of $2.9 billion to $3.0 billion also only reached, rather than exceeded, the roughly $3.0 billion analyst forecast, raising concerns about slowing growth. Zillow Stock Sinks on Layoffs and Soft Guidance
• Negative Sentiment: Zillow recorded a $4 million net loss after $36 million in restructuring costs, contrasting with analysts’ expectation for approximately $21 million of net income. The company also eliminated more than 500 positions, or about 7% of its workforce, suggesting management is cutting costs amid operating challenges. Zillow Swings to Loss on Restructuring Costs
• Negative Sentiment: Several law firms reiterated notices about a securities-fraud class action and an August 10 lead-plaintiff deadline involving alleged anticompetitive agreements and regulatory risks. The legal announcements add reputational and potential financial-risk overhang, although they do not represent a final finding of wrongdoing. Zillow Securities Fraud Class Action Notice

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.