Zillow Group, Inc. (NASDAQ:Z) Receives $72.38 Consensus Price Target from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:Z) have received an average rating of “Moderate Buy” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $68.50.

Z has been the topic of several research reports. Sanford C. Bernstein cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday. Evercore cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods decreased their price target on Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Jefferies Financial Group reduced their price objective on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th.

Zillow Group News Summary

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 roughly $0.44–$0.45 consensus estimate, while revenue of $772 million also exceeded expectations. Revenue increased 18% year over year, providing evidence of continued business growth. Zillow Q2 earnings beat
• Positive Sentiment: July home sales rose 7% year over year, the strongest annual increase of the year, potentially supporting Zillow’s transaction-related businesses. Zillow July market report

Zillow Group Price Performance

Z stock opened at $33.61 on Monday. The company has a 50-day simple moving average of $33.05 and a 200 day simple moving average of $41.35. The company has a market capitalization of $7.69 billion, a P/E ratio of 152.78, a PEG ratio of 1.44 and a beta of 1.98. Zillow Group has a fifty-two week low of $29.23 and a fifty-two week high of $93.88.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Equities analysts anticipate that Zillow Group will post 0.9 EPS for the current year.

Insider Buying and Selling at Zillow Group

In related news, Director Erik C. Blachford sold 791 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $34.80, for a total value of $27,526.80. Following the completion of the sale, the director owned 34,952 shares in the company, valued at approximately $1,216,329.60. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the transaction, the insider owned 49,696 shares in the company, valued at approximately $1,858,630.40. The trade was a 5.83% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 42,910 shares of company stock valued at $1,605,732 over the last three months. 23.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in Zillow Group by 11.9% during the second quarter. Assenagon Asset Management S.A. now owns 303,930 shares of the financial services provider’s stock valued at $9,580,000 after buying an additional 32,387 shares during the period. Arlington Partners LLC boosted its position in Zillow Group by 22.5% during the 2nd quarter. Arlington Partners LLC now owns 7,235 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,327 shares during the period. CX Institutional purchased a new position in Zillow Group during the 2nd quarter valued at about $110,000. NewEdge Advisors LLC grew its stake in Zillow Group by 2.0% during the 1st quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock valued at $1,575,000 after acquiring an additional 750 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in shares of Zillow Group in the 1st quarter valued at about $166,000. 71.01% of the stock is owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.