Zillow Group (NASDAQ:ZG) Stock Price Target Lowered at UBS Group

Key Points

• UBS lowered Zillow Group’s price target from $50 to $48 but maintained a “buy” rating, implying roughly 50.6% upside from the prior close.
• Analyst sentiment is mixed: MarketBeat reports an average “hold” rating and an average price target of $51.10, with 10 buy, 12 hold, and one sell rating.
• Zillow shares traded at $31.87, well below their 52-week high of $74.80. The company nevertheless exceeded quarterly earnings and revenue expectations, reporting $0.52 EPS and $772 million in revenue.

Zillow Group (NASDAQ:ZG - Get Free Report) had its price objective reduced by analysts at UBS Group from $50.00 to $48.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. UBS Group's price target points to a potential upside of 50.61% from the company's previous close.

Several other research firms have also recently commented on ZG. Susquehanna lowered their target price 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. Weiss Ratings reissued a "sell (d)" rating on shares of Zillow Group in a report on Wednesday, August 19th. Citizens Jmp cut their target price on Zillow Group from $75.00 to $46.00 and set a "market outperform" rating for the company in a research report on Friday, August 7th. JPMorgan Chase & Co. cut their target price on Zillow Group from $76.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group decreased their price target on Zillow Group from $52.00 to $40.00 and set a "hold" rating for the company in a research note on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $51.10.

Zillow Group Stock Performance

Shares of NASDAQ:ZG traded down $1.31 during trading hours on Wednesday, hitting $31.87. The stock had a trading volume of 979,232 shares, compared to its average volume of 1,146,471. The stock's fifty day simple moving average is $32.35 and its 200 day simple moving average is $39.92. Zillow Group has a 1-year low of $27.25 and a 1-year high of $74.80. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 144.87, a PEG ratio of 1.44 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business's revenue was up 17.9% on a year-over-year basis. As a group, research analysts anticipate that Zillow Group will post 0.92 EPS for the current year.

Insider Activity

In other news, insider Errol Samuelson sold 3,154 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $107,992.96. Following the transaction, the insider owned 130,885 shares in the company, valued at $4,481,502.40. This represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the transaction, the chief executive officer owned 138,574 shares in the company, valued at $4,736,459.32. This trade represents a 6.31% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 38,539 shares of company stock valued at $1,323,800 in the last ninety days. Corporate insiders own 29.88% of the company's stock.

Institutional Trading of Zillow Group

Hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP grew its position in Zillow Group by 1,290.7% in the second quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company's stock valued at $3,010,000 after acquiring an additional 89,059 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Zillow Group in the 2nd quarter worth $1,614,000. MFG Wealth Management Inc. acquired a new stake in shares of Zillow Group in the 2nd quarter valued at approximately $2,146,000. Assenagon Asset Management S.A. bought a new stake in shares of Zillow Group in the 2nd quarter valued at $1,546,000. Finally, AXQ Capital LP bought a new position in shares of Zillow Group during the 2nd quarter valued at about $2,015,000. 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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