Zillow Group (NASDAQ:ZG) Price Target Cut to $26.00 by Analysts at Cantor Fitzgerald

Zillow Group (NASDAQ:ZG) had its price objective trimmed by Cantor Fitzgerald from $32.00 to $26.00 in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has a neutral rating on the technology company’s stock.

Several other brokerages have also recently weighed in on ZG. Deutsche Bank Aktiengesellschaft set a $80.00 target price on Zillow Group in a report on Monday, August 24th. KeyCorp cut their price target on Zillow Group from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday. Susquehanna decreased their price objective on Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research note on Monday, August 24th. Finally, Canaccord Genuity Group lowered their price objective on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a research note on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.95.

Zillow Group Stock Performance

Zillow Group stock opened at $31.21 on Thursday. The company has a 50 day moving average price of $31.72 and a 200-day moving average price of $38.68. Zillow Group has a fifty-two week low of $27.25 and a fifty-two week high of $74.80. The company has a market capitalization of $7.02 billion, a PE ratio of -60.02, a P/E/G ratio of 1.47 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The firm had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $753.66 million. Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.18%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, analysts forecast that Zillow Group will post 0.91 earnings per share for the current year.

Insider Activity at Zillow Group

In related news, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares in the company, valued at $4,736,459.32. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the sale, the chief financial officer owned 59,144 shares of the company’s stock, valued at $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,539 shares of company stock valued at $1,323,800 over the last 90 days. Insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently added to or reduced their stakes in ZG. Engineers Gate Manager LP lifted its position in Zillow Group by 1,290.7% during the second quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock valued at $3,010,000 after acquiring an additional 89,059 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Zillow Group in the second quarter worth $1,614,000. MFG Wealth Management Inc. acquired a new position in shares of Zillow Group during the second quarter worth $2,146,000. Assenagon Asset Management S.A. increased its position in shares of Zillow Group by 724.4% during the third quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock worth $11,257,000 after purchasing an additional 357,104 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Zillow Group during the second quarter worth $2,015,000. 20.32% of the stock is currently owned by institutional investors.

More Zillow Group News

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

• Positive Sentiment: Piper Sandler kept its “overweight” rating and Citizens JMP maintained “market outperform”; although both lowered their price targets, the new targets of $39 and $40 remain above the recent share price. Piper Sandler analyst update Citizens JMP analyst update
• Neutral Sentiment: Third-quarter revenue increased 7.1% year over year to $724 million, with rentals helping cushion weakness in home sales. That growth was below analysts’ $753.7 million estimate. Zillow revenue and rentals report
• Negative Sentiment: Zillow reported Q3 adjusted earnings of $0.55 per share, below the $0.60 consensus, while revenue also missed expectations. The shortfall weighed on sentiment despite earnings being higher than a year earlier. Zillow Q3 earnings results
• Negative Sentiment: Zillow’s October market report showed preliminary existing-home sales down 8.7% year over year and newly pending listings down 16.8%—the steepest annual decline since August 2023. A weaker sales pipeline could constrain future industry activity and Zillow’s growth. Zillow October Market Report
• Negative Sentiment: Several firms reduced their targets: Wells Fargo cut its target to $30 and kept an “equal weight” rating; Bernstein lowered its target to $34 with “market perform”; Cantor Fitzgerald cut to $26 and “neutral.” These reductions reinforce concerns about near-term upside. Analyst target changes

Zillow Group Company Profile

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.