Zillow Group (NASDAQ:ZG) Given New $53.00 Price Target at Mizuho

Zillow Group (NASDAQ:ZG) had its target price cut by Mizuho from $65.00 to $53.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on ZG. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Cantor Fitzgerald lowered their price target on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Wells Fargo & Company lowered their price target on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. Robert W. Baird lowered their price target on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Barclays lowered their price target on shares of Zillow Group from $66.00 to $58.00 and set an “equal weight” rating on the stock in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.90.

Zillow Group Stock Down 1.8%

Shares of NASDAQ ZG opened at $44.04 on Thursday. Zillow Group has a twelve month low of $39.14 and a twelve month high of $90.22. The stock’s 50 day moving average price is $43.69 and its 200-day moving average price is $57.86. The company has a market capitalization of $10.57 billion, a PE ratio of 176.16, a PEG ratio of 2.20 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a return on equity of 1.37% and a net margin of 2.27%.The company’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, research analysts expect that Zillow Group will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CTO David A. Beitel sold 3,966 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total transaction of $175,376.52. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owned 41,080 shares in the company, valued at $1,805,466. The trade was a 11.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 60,801 shares of company stock worth $2,683,986. Company insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Zillow Group during the 4th quarter valued at $152,050,000. Independent Franchise Partners LLP grew its position in shares of Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares in the last quarter. M&T Bank Corp grew its position in shares of Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after purchasing an additional 1,600,097 shares in the last quarter. Tiger Global Management LLC grew its position in shares of Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after purchasing an additional 240,690 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group News Roundup

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

• Positive Sentiment: Q1 revenue growth and business momentum: Zillow reported year?over?year revenue growth driven by a big jump in mortgage originations and rental revenue, highlighting strength in its diversified home?finance and rentals businesses. Zacks: Zillow’s Q1 Earnings Beat Estimates
• Neutral Sentiment: Guidance roughly in line with expectations: Zillow gave Q2 revenue guidance of about $750.0–$765.0M versus a consensus near $760.3M — broadly in range but not clearly upside. See the company release for details. PR Newswire: Q1 Financial Results
• Negative Sentiment: Analysts cut price targets: Several firms trimmed targets (Wells Fargo to $45, Mizuho to $53, Piper Sandler to $55, KeyCorp to $65). Those cuts reduce upside and signal increased caution from sell?side analysts. Benzinga: Analyst Price Target Moves
• Negative Sentiment: Securities?class?action investigation announced: Rosen Law Firm is soliciting Zillow shareholders for a potential securities class action alleging materially misleading statements, which can increase legal and reputational risk. Newsfile: Rosen Law Firm Investigation
• Negative Sentiment: Mixed/conflicting earnings coverage and traffic decline create uncertainty: Some outlets reported an EPS beat while others flagged a miss or lower traffic (WSJ reports traffic down ~3%), which may be amplifying investor uncertainty about growth sustainability and margins. MarketBeat: Earnings summary WSJ: Traffic decline

About Zillow Group

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.