Zillow Group, Inc. (NASDAQ:ZG) Stock Has Consensus Target Price of $51.19 According to Brokerages

Key Points

• Zillow Group has a consensus “Hold” rating from 23 brokerages, with 12 holds, 10 buys and 1 sell. The average 12-month price target is $51.19.
• Shares opened at $28.69 and were reported down 4%, well below their 52-week high of $76.32. The stock trades at a high price-to-earnings ratio of 130.42.
• Zillow beat quarterly expectations, reporting $0.52 in earnings per share versus estimates of $0.44 and revenue of $772 million versus $758.25 million expected; revenue increased 17.9% year over year.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) has been given a consensus rating of "Hold" by the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $51.19.

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of Zillow Group from $55.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. KeyCorp reaffirmed an "overweight" rating and set a $48.00 price target on shares of Zillow Group in a report on Tuesday, August 25th. Wells Fargo & Company set a $21.00 price objective on shares of Zillow Group in a research report on Monday. Evercore set a $40.00 target price on Zillow Group and gave the stock an "in-line" rating in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 price target on shares of Zillow Group in a research note on Monday, August 24th.

Zillow Group Trading Down 4.0%

Shares of Zillow Group stock opened at $28.69 on Tuesday. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 130.42, a PEG ratio of 1.30 and a beta of 2.02. The company's fifty day simple moving average is $32.92 and its 200-day simple moving average is $35.62. Zillow Group has a 1 year low of $27.25 and a 1 year high of $76.32.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted 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 net margin of 1.96% and a return on equity of 2.32%. The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business's revenue was up 17.9% compared to the same quarter last year. As a group, research analysts forecast that Zillow Group will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 9,339 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $319,207.02. Following the transaction, the chief executive officer owned 138,574 shares of the company's stock, valued at $4,736,459.32. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98. Following the transaction, the chief financial officer directly owned 59,144 shares in the company, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their ownership of the stock. 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 a total of 38,539 shares of company stock worth $1,323,800 over the last ninety days. Company insiders own 29.88% of the company's stock.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Technology Crossover Management XI Ltd. acquired a new position in Zillow Group during the 2nd quarter worth approximately $73,694,895. Kahn Brothers Group Inc. bought a new position in shares of Zillow Group in the 2nd quarter valued at about $37,265,000. Hsbc Holdings PLC increased its position in Zillow Group by 1,616.8% during the first quarter. Hsbc Holdings PLC now owns 135,352 shares of the technology company's stock worth $5,602,000 after buying an additional 127,468 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Zillow Group by 106.6% during the 1st quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company's stock worth $7,287,000 after acquiring an additional 90,858 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in shares of 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 purchasing an additional 89,059 shares during the last quarter. 20.32% of the stock is 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 buy, sell, rent and finance homes. Founded in 2006 and headquartered in Seattle, Washington, the company serves the U.S. residential real estate market through a portfolio of well-known brands.

Its flagship Zillow platform provides home listings, property information, estimated home values through its Zestimate tool, rental listings, mortgage resources and connections to real estate professionals.

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