Zillow Group (NASDAQ:ZG) Stock Gets Price Target Trim from Citizens Jmp

Zillow Group (NASDAQ:ZG) had its target price cut by equities research analysts at Citizens Jmp from $46.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the technology company’s stock. Citizens Jmp‘s price objective indicates a potential upside of 26.10% from the company’s current price.

Several other research firms also recently weighed in on ZG. Sanford C. Bernstein downgraded shares of Zillow Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $50.00 to $38.00 in a research note on Thursday, August 6th. Canaccord Genuity Group decreased their target price on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. UBS Group lowered their target price on Zillow Group from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. DA Davidson lowered their target price on Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. dropped their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Hold” and an average price target of $49.52.

Zillow Group Stock Performance

NASDAQ ZG opened at $31.72 on Thursday. The business has a fifty day moving average price of $31.82 and a 200 day moving average price of $38.87. Zillow Group has a one year low of $27.25 and a one year high of $74.80. The company has a market cap of $7.13 billion, a P/E ratio of 141.74, a P/E/G ratio of 1.34 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, November 4th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.05). Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The business had revenue of $724.00 million for the quarter, compared to analyst estimates of $753.66 million. During the same period last year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Zillow Group will post 0.91 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the transaction, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at $2,021,541.92. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, insider Dan Spaulding sold 3,169 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the transaction, the insider owned 44,561 shares in the company, valued at $1,576,122.57. The trade was a 6.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 38,539 shares of company stock worth $1,323,800. Insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ninety One SA Pty Ltd acquired a new position in Zillow Group in the third quarter valued at approximately $26,000. Integrated Wealth Concepts LLC purchased a new position in Zillow Group in the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its stake in Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after acquiring an additional 637 shares during the last quarter. Fifth Third Bancorp increased its stake in Zillow Group by 990.3% during the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after acquiring an additional 921 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Zillow Group by 244.8% during the third quarter. Parallel Advisors LLC now owns 2,200 shares of the technology company’s stock worth $61,000 after acquiring an additional 1,562 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Trending Headlines about Zillow Group

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

• Positive Sentiment: Third-quarter revenue rose 7% year over year, with the rentals business helping cushion softness in home sales. Read article
• Negative Sentiment: Q3 adjusted earnings of $0.55 per share fell short of the $0.60 consensus, while revenue of $724 million missed estimates of about $754 million. The earnings and sales shortfalls weighed on the outlook despite year-over-year growth. Read article
• Negative Sentiment: Cantor Fitzgerald cut its price target to $26 from $32 and assigned a neutral rating, signaling reduced confidence in the shares. Read article
• Negative Sentiment: Housing activity remains weak: newly pending listings fell 16.8% year over year in October, the steepest decline since August 2023, while Zillow’s preliminary existing-home sales measure dropped 8.7%. That softness could constrain transactions-related business. Read article

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.