Zillow Group (NASDAQ:ZG) Stock Price Target Cut by UBS Group

Zillow Group (NASDAQ:ZG) had its target price dropped by analysts at UBS Group from $48.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group‘s target price would suggest a potential upside of 41.63% from the company’s current price.

ZG has been the topic of several other reports. Weiss Ratings restated a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Evercore reiterated a “reduce” rating and issued a $35.00 price objective on shares of Zillow Group in a research note on Thursday. Canaccord Genuity Group decreased their price objective on shares of Zillow Group from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday. Piper Sandler lowered their target price on shares of Zillow Group from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Benchmark reissued a “buy” rating on shares of Zillow Group in a research note on Monday, August 24th. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.14.

Zillow Group Stock Performance

NASDAQ ZG opened at $30.36 on Thursday. Zillow Group has a one year low of $27.25 and a one year high of $74.80. The firm has a market cap of $6.83 billion, a PE ratio of -58.38, a P/E/G ratio of 1.40 and a beta of 1.95. The firm’s fifty day moving average is $31.60 and its two-hundred day moving average is $38.51.

Zillow Group (NASDAQ:ZG) last issued its quarterly 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). The company had revenue of $724.00 million during the quarter, compared to analyst estimates of $753.66 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Research analysts predict that Zillow Group will post 0.91 earnings per share for the current year.

Insider Activity at Zillow Group

In other news, Director Erik Blachford sold 792 shares of Zillow Group stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the completion of the sale, the director directly owned 34,160 shares in the company, valued at $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the business’s stock in a transaction that occurred on 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 directly owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,539 shares of company stock worth $1,323,800 over the last three months. Company insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the business. Technology Crossover Management XI Ltd. purchased a new position in Zillow Group during the second quarter worth about $73,694,895. Kahn Brothers Group Inc. purchased a new stake in Zillow Group in the 2nd quarter valued at about $37,265,000. Dimensional Fund Advisors LP grew its holdings in Zillow Group by 18.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 554,460 shares of the technology company’s stock valued at $22,947,000 after buying an additional 85,367 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Zillow Group by 724.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock valued at $11,257,000 after acquiring an additional 357,104 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Zillow Group by 106.6% during the 1st quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock valued at $7,287,000 after acquiring an additional 90,858 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Key Zillow Group News

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

• Neutral Sentiment: Zillow said its COO and CFO will take part in a fireside chat at the RBC Capital Markets technology conference on Nov. 17; the announcement does not include new financial guidance. Conference announcement
• Neutral Sentiment: Although UBS retained a Buy rating and Canaccord a Hold, both lowered their price targets—to $43 from $48 and $34 from $40, respectively. Other firms also cut targets, with ratings ranging from Overweight to Equal Weight and Neutral, reflecting mixed views. Read More. · Read More.
• Negative Sentiment: Zillow’s third-quarter results missed estimates: adjusted earnings were $0.55 per share versus $0.60 expected, while revenue of $724 million came in below the roughly $754 million consensus. Revenue still rose 7.1% year over year, but the shortfall likely weighed on investor sentiment. Q3 results
• Negative Sentiment: Housing activity weakened in October: newly pending listings fell 16.8% year over year, the steepest decline since August 2023, and Zillow’s preliminary measure of existing-home sales dropped 8.7%. Softer transaction activity could constrain Zillow’s marketplace and related revenue opportunities. October housing market report

About Zillow Group

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.