Zillow Group (ZG) to Release Earnings on Thursday

Key Points

• Zillow Group is scheduled to release its earnings report on Thursday, October 30th, with analysts anticipating an earnings per share (EPS) of $0.46 and revenue of approximately $670.28 million for the quarter.
• The company reported an EPS of $0.40 in its last earnings release, falling short of the consensus estimate of $0.44, despite recording a revenue increase of 14.5% year-over-year.
• Analysts maintain a "Moderate Buy" average rating for Zillow Group, with target price estimates ranging from $82.00 to $95.00, signaling a positive outlook despite recent stock performance fluctuations.

Zillow Group (NASDAQ:ZG - Get Free Report) is expected to be releasing its results after the market closes on Thursday, October 30th. Analysts expect Zillow Group to post earnings of $0.46 per share and revenue of $670.2820 million for the quarter.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. On average, analysts expect Zillow Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Zillow Group Trading Up 0.4%

Shares of NASDAQ ZG opened at $73.99 on Thursday. The stock has a 50 day simple moving average of $77.94 and a 200-day simple moving average of $72.23. The company has a market cap of $17.93 billion, a PE ratio of -284.58, a P/E/G ratio of 25.20 and a beta of 2.11. Zillow Group has a 12-month low of $55.08 and a 12-month high of $90.22.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer assumed coverage on Zillow Group in a research report on Monday, October 6th. They set a "market perform" rating for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zillow Group in a research report on Wednesday, October 8th. Finally, Piper Sandler upped their target price on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Zillow Group has an average rating of "Moderate Buy" and an average target price of $86.92.

Insider Activity at Zillow Group

In other news, Director April Underwood sold 3,621 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.12, for a total transaction of $326,324.52. Following the completion of the sale, the director owned 483 shares in the company, valued at approximately $43,527.96. This represents a 88.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David A. Beitel sold 22,510 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer owned 144,549 shares of the company's stock, valued at $13,149,622.53. This trade represents a 13.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 657,087 shares of company stock worth $56,286,479. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its position in shares of Zillow Group by 8.5% during the 2nd quarter. Osaic Holdings Inc. now owns 3,966 shares of the technology company's stock valued at $271,000 after acquiring an additional 310 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in Zillow Group during the 2nd quarter valued at $252,000. Headlands Technologies LLC acquired a new stake in Zillow Group during the 2nd quarter valued at $893,000. Corient Private Wealth LLC acquired a new stake in shares of Zillow Group in the second quarter worth $263,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Zillow Group in the second quarter worth $451,000. Institutional investors and hedge funds own 20.32% of the company's stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.

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