Wedbush Lowers Zillow Group (NASDAQ:Z) Price Target to $50.00

Zillow Group (NASDAQ:Z) had its target price lowered by research analysts at Wedbush from $60.00 to $50.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price target points to a potential upside of 22.88% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on Z. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Zillow Group from $46.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Jefferies Financial Group upped their target price on shares of Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.20.

Zillow Group Price Performance

Z stock opened at $40.69 on Thursday. Zillow Group has a 1 year low of $33.80 and a 1 year high of $61.13. The firm has a market capitalization of $9.50 billion, a PE ratio of -58.97 and a beta of 1.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.24. The business has a 50 day simple moving average of $48.55 and a 200-day simple moving average of $48.83.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.42). The firm had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $509.30 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. During the same period last year, the firm earned ($0.06) earnings per share. Equities research analysts anticipate that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at approximately $8,375,604.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Jeremy Hofmann sold 7,813 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $54.76, for a total transaction of $427,839.88. Following the completion of the sale, the chief financial officer now owns 137,347 shares in the company, valued at approximately $7,521,121.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction of $209,262.40. Following the completion of the transaction, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock worth $9,642,508 in the last ninety days. 23.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Zillow Group in the 4th quarter valued at $25,000. Concord Wealth Partners purchased a new stake in shares of Zillow Group in the first quarter valued at about $26,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Zillow Group during the third quarter worth about $33,000. Fidelis Capital Partners LLC acquired a new stake in shares of Zillow Group during the first quarter worth about $37,000. Finally, Montag A & Associates Inc. acquired a new position in Zillow Group in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.