Robert W. Baird Issues Pessimistic Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its target price cut by stock analysts at Robert W. Baird from $67.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 22.52% from the company’s previous close.

ZG has been the subject of several other reports. BNP Paribas Exane started coverage on shares of Zillow Group in a research report on Wednesday, January 14th. They set an “outperform” rating and a $85.00 price objective for the company. Sanford C. Bernstein decreased their price target on Zillow Group from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Citigroup lowered their price target on Zillow Group from $100.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, February 12th. The Goldman Sachs Group restated a “neutral” rating on shares of Zillow Group in a research report on Tuesday. Finally, Cantor Fitzgerald reduced their price objective on Zillow Group from $68.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 11th. Fourteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.50.

Zillow Group Stock Down 1.8%

ZG opened at $44.89 on Wednesday. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 498.83, a P/E/G ratio of 2.56 and a beta of 2.05. Zillow Group has a twelve month low of $40.69 and a twelve month high of $90.22. The company has a 50-day simple moving average of $53.15 and a 200 day simple moving average of $65.92.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same period in the prior year, the business earned $0.27 earnings per share. Zillow Group’s quarterly revenue was up 18.1% compared to the same quarter last year. Sell-side analysts anticipate that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, insider Dan Spaulding sold 5,361 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the sale, the insider owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. The trade was a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO David A. Beitel sold 3,966 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the completion of the transaction, the chief technology officer owned 136,690 shares of the company’s stock, valued at $6,044,431.80. The trade was a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 60,801 shares of company stock valued at $2,683,986. 17.14% of the stock is currently owned by insiders.

Institutional Trading of Zillow Group

A number of hedge funds have recently made changes to their positions in ZG. Arax Advisory Partners grew its holdings in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after buying an additional 187 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in Zillow Group during the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC acquired a new stake in Zillow Group during the 4th quarter worth approximately $47,000. Finally, Quarry LP acquired a new stake in Zillow Group during the 4th quarter worth approximately $56,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.