Zillow Group (NASDAQ:ZG) Price Target Cut to $42.00 by Analysts at KeyCorp

Key Points

• KeyCorp lowered Zillow Group’s price target from $48 to $42 while maintaining an “overweight” rating, implying approximately 27.7% upside from the stock’s $32.90 opening price.
• Analyst sentiment is mixed: Zillow has a consensus “Hold” rating, with 10 Buy, 12 Hold, and 1 Sell recommendation; the average price target is $50.81.
• Zillow’s latest quarterly results exceeded expectations, with adjusted EPS of $0.52 versus $0.44 expected and revenue of $772 million, up 17.9% year over year.

Zillow Group (NASDAQ:ZG - Get Free Report) had its target price cut by equities researchers at KeyCorp from $48.00 to $42.00 in a report released on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. KeyCorp's price objective suggests a potential upside of 27.66% from the stock's current price.

A number of other brokerages also recently weighed in on ZG. Citigroup cut their price target on shares of Zillow Group from $68.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Evercore downgraded shares of Zillow Group from an "outperform" rating to an "in-line" rating and set a $40.00 price objective for the company. in a research report on Thursday, August 6th. Zacks Research cut Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Piper Sandler cut their target price on Zillow Group from $55.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Finally, Benchmark reaffirmed a "buy" rating on shares of Zillow Group in a report on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $50.81.

Zillow Group Stock Performance

ZG opened at $32.90 on Tuesday. The firm has a market cap of $7.40 billion, a P/E ratio of 149.55, a price-to-earnings-growth ratio of 1.35 and a beta of 2.02. Zillow Group has a 52-week low of $27.25 and a 52-week high of $74.80. The business's fifty day moving average is $32.00 and its 200-day moving average is $39.21.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Zillow Group's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, research analysts predict that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 3,169 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the transaction, the insider directly owned 44,561 shares in the company, valued at $1,576,122.57. This represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol Samuelson sold 3,154 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the transaction, the insider directly owned 130,885 shares of the company's stock, valued at approximately $4,481,502.40. The trade was a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,539 shares of company stock worth $1,323,800 over the last 90 days. 29.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ZG. Ninety One SA Pty Ltd bought a new position in Zillow Group in the third quarter valued at about $26,000. Integrated Wealth Concepts LLC bought a new position in Zillow Group in the 2nd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its holdings in Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company's stock valued at $41,000 after buying an additional 637 shares during the last quarter. Fifth Third Bancorp boosted its position in Zillow Group by 990.3% during the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company's stock worth $42,000 after buying an additional 921 shares during the period. Finally, Nykredit A S acquired a new stake in Zillow Group during the 2nd quarter worth approximately $65,000. Institutional investors own 20.32% of the company's stock.

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.

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