Zacks: Brokerages Expect Zillow Group, Inc. (NASDAQ:ZG) Will Post Quarterly Sales of $3.37 Billion

Analysts expect Zillow Group, Inc. (NASDAQ:ZG – Get Rating) to post $3.37 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Zillow Group’s earnings, with the highest sales estimate coming in at $3.45 billion and the lowest estimate coming in at $3.28 billion. Zillow Group reported sales of $1.22 billion in the same quarter last year, which would suggest a positive year over year growth rate of 176.2%. The company is expected to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Zillow Group will report full-year sales of $6.63 billion for the current year, with estimates ranging from $6.07 billion to $7.22 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.58 billion, with estimates ranging from $2.48 billion to $2.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Zillow Group.

Zillow Group (NASDAQ:ZG – Get Rating) last posted its quarterly earnings data on Thursday, February 10th. The technology company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.48) by $1.06. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.29 billion. Zillow Group had a negative net margin of 6.48% and a negative return on equity of 7.26%. Zillow Group’s quarterly revenue was up 392.1% on a year-over-year basis. During the same period last year, the firm posted $0.20 EPS.

A number of equities analysts have recently commented on ZG shares. Susquehanna cut their target price on shares of Zillow Group from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, February 11th. DA Davidson decreased their price target on shares of Zillow Group from $125.00 to $78.00 and set a “buy” rating for the company in a report on Friday, February 11th. Piper Sandler decreased their price target on shares of Zillow Group from $64.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, March 17th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 8th. Finally, Truist Financial boosted their price target on shares of Zillow Group from $55.00 to $58.00 and gave the stock a “hold” rating in a research report on Friday, February 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.17.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Garner Asset Management Corp lifted its stake in Zillow Group by 0.6% in the first quarter. Garner Asset Management Corp now owns 56,016 shares of the technology company’s stock valued at $2,702,000 after buying an additional 310 shares during the period. Chicago Capital LLC raised its position in Zillow Group by 1,445.7% in the 1st quarter. Chicago Capital LLC now owns 326,829 shares of the technology company’s stock valued at $15,763,000 after buying an additional 305,684 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in Zillow Group by 62.6% in the 1st quarter. Great Valley Advisor Group Inc. now owns 5,873 shares of the technology company’s stock valued at $283,000 after purchasing an additional 2,260 shares during the period. Verde Capital Management grew its stake in shares of Zillow Group by 45.8% during the 1st quarter. Verde Capital Management now owns 47,306 shares of the technology company’s stock worth $2,282,000 after acquiring an additional 14,859 shares during the period. Finally, Atticus Wealth Management LLC bought a new position in shares of Zillow Group during the 1st quarter worth $48,000. 20.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ZG opened at $42.48 on Wednesday. Zillow Group has a 1 year low of $37.27 and a 1 year high of $127.36. The firm’s 50 day moving average price is $48.48 and its 200 day moving average price is $57.22. The firm has a market cap of $10.65 billion, a P/E ratio of -20.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.98.

Zillow Group Company Profile (Get Rating)

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services.

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