Zacks Investment Research Lowers Zillow Group, Inc. (ZG) to Hold

Zillow Group, Inc. (NASDAQ:ZG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, May 11th.

According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “

A number of other brokerages also recently commented on ZG. Cowen and Company increased their price target on Zillow Group from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, May 5th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 target price (up from $41.00) on shares of Zillow Group in a research report on Friday, May 5th. Benchmark Co. raised their target price on Zillow Group from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Royal Bank of Canada raised their target price on Zillow Group from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, Morgan Stanley downgraded Zillow Group from an “overweight” rating to an “equal weight” rating and set a $39.00 target price for the company. in a research report on Friday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $39.69.

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

Shares of Zillow Group (ZG) traded up 0.31% during trading on Thursday, reaching $45.58. The company’s stock had a trading volume of 394,174 shares. Zillow Group has a 52 week low of $31.17 and a 52 week high of $46.17. The company’s market cap is $8.35 billion. The stock’s 50 day moving average price is $43.30 and its 200 day moving average price is $37.73.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.08. The business had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $236.04 million. Zillow Group had a negative net margin of 19.58% and a negative return on equity of 5.65%. The business’s revenue was up 32.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) earnings per share. Equities research analysts predict that Zillow Group will post $0.45 EPS for the current year.

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Large investors have recently modified their holdings of the company. Intellectus Partners LLC purchased a new stake in shares of Zillow Group during the fourth quarter valued at about $116,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Zillow Group during the fourth quarter valued at about $200,000. Fox Run Management L.L.C. purchased a new stake in shares of Zillow Group during the first quarter valued at about $213,000. First Republic Investment Management Inc. purchased a new stake in shares of Zillow Group during the fourth quarter valued at about $300,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Zillow Group by 8.8% in the first quarter. Oppenheimer & Co. Inc. now owns 8,687 shares of the technology company’s stock valued at $294,000 after buying an additional 700 shares during the period. 26.78% of the stock is owned by hedge funds and other institutional investors.

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