Zillow Group (ZG) Downgraded by Barclays

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Zillow Group (NASDAQ:ZG) was downgraded by equities researchers at Barclays from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Thursday, The Fly reports.

ZG has been the subject of a number of other reports. ValuEngine cut Zillow Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Zacks Investment Research reissued a “hold” rating on shares of Zillow Group in a report on Saturday, November 17th. Canaccord Genuity set a $42.00 price objective on Zillow Group and gave the company a “buy” rating in a report on Friday, February 22nd. Bank of America cut Zillow Group from a “neutral” rating to an “underperform” rating in a report on Friday, February 22nd. Finally, Wedbush lifted their price objective on Zillow Group from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, February 27th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.38.

Shares of Zillow Group stock traded down $1.32 during midday trading on Thursday, hitting $37.61. The company had a trading volume of 723,794 shares, compared to its average volume of 888,578. The company has a market cap of $7.97 billion, a price-to-earnings ratio of -144.65 and a beta of 1.29. The company has a current ratio of 6.58, a quick ratio of 6.02 and a debt-to-equity ratio of 0.21. Zillow Group has a 1-year low of $26.20 and a 1-year high of $65.42.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. Zillow Group had a negative net margin of 8.99% and a negative return on equity of 1.63%. The firm had revenue of $365.34 million for the quarter, compared to the consensus estimate of $349.46 million. As a group, research analysts forecast that Zillow Group will post -1.4 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of ZG. Vanguard Group Inc. grew its position in shares of Zillow Group by 206.5% during the 3rd quarter. Vanguard Group Inc. now owns 14,959,121 shares of the technology company’s stock worth $661,673,000 after buying an additional 10,077,908 shares during the period. Morgan Stanley grew its position in shares of Zillow Group by 124.7% during the 3rd quarter. Morgan Stanley now owns 3,965,989 shares of the technology company’s stock worth $175,296,000 after buying an additional 2,201,039 shares during the period. Norges Bank acquired a new position in shares of Zillow Group during the 4th quarter worth about $28,753,000. Vanguard Group Inc grew its position in shares of Zillow Group by 9.5% during the 3rd quarter. Vanguard Group Inc now owns 5,344,679 shares of the technology company’s stock worth $236,235,000 after buying an additional 463,466 shares during the period. Finally, FMR LLC grew its position in shares of Zillow Group by 241.4% during the 4th quarter. FMR LLC now owns 528,637 shares of the technology company’s stock worth $16,615,000 after buying an additional 373,785 shares during the period. Institutional investors own 24.82% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

Further Reading: Growth Stocks

The Fly

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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