Zillow Group, Inc. (NASDAQ:Z) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Zillow Group retains a “Moderate Buy” consensus from 16 analysts, with five buy and two strong-buy ratings versus eight holds and one sell. The average 12-month price target is $61.29.
• Recent analysts have generally reduced their ratings or price targets, including downgrades from Wall Street Zen and Bernstein and target cuts from Keefe, Bruyette & Woods, Jefferies and RBC.
• Zillow’s latest quarterly results exceeded expectations, with earnings per share of $0.52 versus a $0.45 estimate and revenue of $772 million versus $758.1 million expected. The stock opened at $30.65, near its 12-month low of $29.23.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) has earned an average rating of "Moderate Buy" from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $61.2857.

Several research analysts have recently commented on Z shares. Wall Street Zen lowered Zillow Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Sanford C. Bernstein downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods lowered their price target on shares of Zillow Group from $37.00 to $34.00 and set a "market perform" rating on the stock in a report on Friday, August 7th. Jefferies Financial Group reduced their price objective on shares of Zillow Group from $75.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada lowered their target price on shares of Zillow Group from $95.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, June 10th.

Zillow Group Trading Up 2.8%

Shares of Z opened at $30.65 on Tuesday. The firm has a fifty day moving average price of $33.66 and a 200-day moving average price of $37.04. The firm has a market capitalization of $6.89 billion, a P/E ratio of 139.32, a P/E/G ratio of 1.30 and a beta of 2.00. Zillow Group has a 12-month low of $29.23 and a 12-month high of $85.00.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Analysts predict that Zillow Group will post 0.89 earnings per share for the current year.

Insider Transactions at Zillow Group

In related news, Director Claire Cormier Thielke sold 1,187 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $42,387.77. Following the transaction, the director directly owned 2,375 shares in the company, valued at $84,811.25. The trade was a 33.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erik Blachford sold 792 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total value of $28,282.32. Following the transaction, the director directly owned 34,160 shares in the company, valued at $1,219,853.60. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 38,539 shares of company stock worth $1,323,800. 23.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new stake in shares of Zillow Group in the second quarter worth $4,676,000. Integrated Wealth Concepts LLC acquired a new position in Zillow Group during the second quarter valued at $78,000. Maven Securities LTD lifted its position in Zillow Group by 80.0% during the second quarter. Maven Securities LTD now owns 73,385 shares of the financial services provider's stock valued at $2,313,000 after purchasing an additional 32,616 shares during the period. Nykredit A S purchased a new stake in Zillow Group in the second quarter valued at $238,000. Finally, Corient Private Wealth LP boosted its holdings in Zillow Group by 229.9% in the second quarter. Corient Private Wealth LP now owns 17,090 shares of the financial services provider's stock valued at $539,000 after purchasing an additional 11,909 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers discover, buy, sell, rent and finance homes. Its websites and mobile applications provide property listings, home values, market data, search tools and connections to real estate professionals.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, which serve residential real estate consumers and professionals across the United States.

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