Zillow Group (NASDAQ:ZG) Stock Gets Price Target Cut from KeyCorp

Zillow Group (NASDAQ:ZG) had its target price cut by KeyCorp from $48.00 to $42.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

ZG has been the subject of several other research reports. Wells Fargo & Company set a $21.00 price objective on shares of Zillow Group in a research report on Monday, October 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Zillow Group in a research report on Friday, September 11th. Susquehanna cut their price target on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $80.00 price target on shares of Zillow Group in a research report on Monday, August 24th. Finally, Canaccord Genuity Group reduced their price target on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.95.

Zillow Group Stock Performance

NASDAQ:ZG opened at $31.21 on Tuesday. The stock has a 50-day simple moving average of $31.72 and a 200-day simple moving average of $38.68. The stock has a market cap of $7.02 billion, a P/E ratio of -60.02, a P/E/G ratio of 1.47 and a beta of 1.95. Zillow Group has a 1 year low of $27.25 and a 1 year high of $74.80.

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

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 5,661 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at $2,021,541.92. This represents a 8.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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, insider Errol G. Samuelson sold 3,154 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $107,992.96. Following the sale, the insider directly owned 130,885 shares of the company’s stock, valued at $4,481,502.40. The trade was a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 38,539 shares of company stock valued at $1,323,800. Insiders own 29.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ninety One SA Pty Ltd acquired a new position in Zillow Group during the third quarter worth $26,000. Integrated Wealth Concepts LLC purchased a new position in Zillow Group in the second quarter worth $29,000. EverSource Wealth Advisors LLC lifted its holdings in Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares during the period. Fifth Third Bancorp lifted its holdings in Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after acquiring an additional 921 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Zillow Group by 244.8% in the third quarter. Parallel Advisors LLC now owns 2,200 shares of the technology company’s stock valued at $61,000 after acquiring an additional 1,562 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Trending Headlines about Zillow Group

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

About Zillow Group

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.