Zillow Group Inc. (ZG) Downgraded 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 research note issued 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. “
ZG has been the topic of a number of other research reports. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $38.00 target price (up previously from $34.00) on shares of Zillow Group in a report on Friday, June 17th. Vetr downgraded Zillow Group from a “sell” rating to a “strong sell” rating and set a $31.00 target price on the stock. in a report on Monday, June 20th. Canaccord Genuity reissued a “buy” rating and issued a $40.00 target price (up previously from $34.00) on shares of Zillow Group in a report on Thursday, July 14th. RBC Capital Markets reissued a “buy” rating and issued a $42.00 target price (up previously from $36.00) on shares of Zillow Group in a report on Tuesday, August 2nd. Finally, Mizuho increased their target price on Zillow Group from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, August 5th. 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 has an average rating of “Hold” and an average price target of $36.38.
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Zillow Group (NASDAQ:ZG) traded down 0.86% on Wednesday, reaching $32.30. The company’s stock had a trading volume of 146,745 shares. The stock has a 50-day moving average of $34.17 and a 200-day moving average of $31.99. The stock’s market cap is $5.80 billion. Zillow Group has a one year low of $16.45 and a one year high of $39.99.
Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.68. The business had revenue of $208.40 million for the quarter, compared to the consensus estimate of $205.90 million. Zillow Group had a negative net margin of 34.51% and a negative return on equity of 9.25%. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. On average, analysts predict that Zillow Group will post ($0.56) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Caledonia Private Investments Pty Ltd bought a new stake in Zillow Group during the first quarter valued at about $332,231,000. Wellington Management Group LLP bought a new stake in Zillow Group during the first quarter valued at about $135,750,000. First New York Securities LLC NY bought a new stake in Zillow Group during the second quarter valued at about $839,000. TIAA CREF Investment Management LLC bought a new stake in Zillow Group during the first quarter valued at about $3,268,000. Finally, Aperio Group LLC bought a new stake in Zillow Group during the first quarter valued at about $250,000. 29.86% of the stock is owned by institutional investors and hedge funds.
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