Zillow Group (NASDAQ:ZG) Earns Underperform Rating from Analysts at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Zillow Group (NASDAQ:ZGGet Rating) in a research note published on Monday morning, The Fly reports. The brokerage issued an underperform rating and a $34.00 price target on the technology company’s stock.

Several other brokerages have also issued reports on ZG. Wolfe Research cut their target price on shares of Zillow Group from $75.00 to $69.00 and set a peer perform rating on the stock in a research note on Friday, February 11th. Royal Bank of Canada lowered their target price on shares of Zillow Group from $70.00 to $65.00 and set an outperform rating for the company in a report on Tuesday, April 26th. Piper Sandler lowered their target price on shares of Zillow Group from $64.00 to $57.00 and set a neutral rating for the company in a report on Thursday, March 17th. Stifel Nicolaus increased their target price on shares of Zillow Group from $60.00 to $65.00 and gave the company a hold rating in a report on Friday, February 11th. Finally, Susquehanna lowered their target price on shares of Zillow Group from $62.00 to $41.00 in a report on Monday, May 9th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $78.91.

NASDAQ:ZG opened at $37.43 on Monday. The firm’s fifty day moving average is $44.44 and its 200-day moving average is $51.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 3.98. Zillow Group has a 52 week low of $33.26 and a 52 week high of $124.90. The firm has a market cap of $9.22 billion, a P/E ratio of -16.86 and a beta of 1.49.

Zillow Group (NASDAQ:ZGGet Rating) last issued its earnings results on Thursday, May 5th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.56. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.39 billion. Zillow Group had a negative net margin of 5.04% and a negative return on equity of 7.61%. Zillow Group’s revenue was up 249.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, sell-side analysts anticipate that Zillow Group will post 0.86 earnings per share for the current year.

In other Zillow Group news, insider Dan Spaulding sold 4,000 shares of Zillow Group stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $38.13, for a total transaction of $152,520.00. Following the completion of the sale, the insider now directly owns 27,936 shares in the company, valued at $1,065,199.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Allen Parker sold 6,755 shares of Zillow Group stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $41.20, for a total transaction of $278,306.00. Following the sale, the chief financial officer now owns 154,260 shares of the company’s stock, valued at $6,355,512. The disclosure for this sale can be found here. Insiders sold 23,856 shares of company stock valued at $978,548 over the last 90 days. 18.52% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in shares of Zillow Group by 4.6% during the third quarter. Morgan Stanley now owns 3,250,359 shares of the technology company’s stock worth $287,917,000 after acquiring an additional 144,255 shares in the last quarter. BlackRock Inc. raised its stake in shares of Zillow Group by 3.5% during the third quarter. BlackRock Inc. now owns 2,811,861 shares of the technology company’s stock worth $249,073,000 after acquiring an additional 95,638 shares in the last quarter. Norges Bank purchased a new position in shares of Zillow Group during the fourth quarter worth approximately $81,054,000. State Street Corp raised its stake in shares of Zillow Group by 0.4% during the fourth quarter. State Street Corp now owns 1,247,937 shares of the technology company’s stock worth $77,647,000 after acquiring an additional 4,848 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Zillow Group by 24.4% during the fourth quarter. Geode Capital Management LLC now owns 940,053 shares of the technology company’s stock worth $58,410,000 after acquiring an additional 184,507 shares in the last quarter. Institutional investors and hedge funds own 20.82% of the company’s stock.

Zillow Group Company Profile (Get Rating)

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services.

See Also

The Fly logo

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.