Zillow Group Inc. (ZG) Cut to Hold at Zacks Investment Research
Zillow Group Inc. (NASDAQ:ZG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “
A number of other equities analysts also recently commented on ZG. RBC Capital Markets reissued a “buy” rating and set a $42.00 price objective (up from $36.00) on shares of Zillow Group in a research report on Tuesday, August 2nd. Cowen and Company reissued a “market perform” rating and set a $37.00 price objective (up from $29.00) on shares of Zillow Group in a research report on Monday, August 8th. Mizuho boosted their price objective on Zillow Group from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Royal Bank Of Canada boosted their price objective on Zillow Group from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Finally, Needham & Company LLC assumed coverage on Zillow Group in a research report on Friday, October 7th. They set a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.38.
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Zillow Group (NASDAQ:ZG) traded down 1.50% during trading on Wednesday, reaching $32.09. 135,117 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $34.17 and a 200-day moving average of $31.99. The stock’s market capitalization is $5.76 billion. Zillow Group has a 52 week low of $16.45 and a 52 week high of $39.99.
Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.68. The business had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.90 million. Zillow Group had a negative return on equity of 9.25% and a negative net margin of 34.51%. The company’s revenue was up 31.3% compared to the same quarter last year. On average, equities research analysts anticipate that Zillow Group will post ($0.56) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. Oppenheimer & Co. Inc. boosted its position in Zillow Group by 0.4% in the second quarter. Oppenheimer & Co. Inc. now owns 8,634 shares of the company’s stock valued at $316,000 after buying an additional 37 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Zillow Group by 4.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,045 shares of the company’s stock valued at $222,000 after buying an additional 231 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Zillow Group by 25.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,130 shares of the company’s stock valued at $115,000 after buying an additional 643 shares during the period. BNP Paribas Arbitrage SA raised its stake in Zillow Group by 6.4% in the third quarter. BNP Paribas Arbitrage SA now owns 10,695 shares of the company’s stock valued at $368,000 after buying an additional 646 shares during the period. Finally, Legal & General Group Plc raised its stake in Zillow Group by 67.4% in the second quarter. Legal & General Group Plc now owns 5,303 shares of the company’s stock valued at $194,000 after buying an additional 2,135 shares during the period. Hedge funds and other institutional investors own 29.86% of the company’s stock.
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