Cantor Fitzgerald Issues Pessimistic Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price target dropped by investment analysts at Cantor Fitzgerald from $56.00 to $46.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 9.42% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Citigroup lowered their price objective on Zillow Group from $100.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Piper Sandler reiterated an “overweight” rating and set a $70.00 target price (down from $85.00) on shares of Zillow Group in a research report on Wednesday, February 11th. Barclays reduced their target price on shares of Zillow Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Robert W. Baird dropped their price target on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Finally, Susquehanna set a $50.00 price target on shares of Zillow Group in a report on Thursday, February 12th. Fourteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Zillow Group currently has an average rating of “Hold” and an average target price of $77.05.

Zillow Group Stock Performance

Shares of ZG opened at $42.04 on Wednesday. Zillow Group has a 52 week low of $40.69 and a 52 week high of $90.22. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 467.16, a PEG ratio of 2.43 and a beta of 2.05. The stock has a fifty day moving average of $50.81 and a 200-day moving average of $64.62.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.Zillow Group’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. As a group, equities analysts forecast that Zillow Group will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, CTO David A. Beitel sold 3,966 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total transaction of $175,376.52. Following the completion of the sale, the chief technology officer owned 136,690 shares of the company’s stock, valued at approximately $6,044,431.80. This represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total transaction of $235,615.95. Following the transaction, the insider owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. The trade was a 11.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,801 shares of company stock valued at $2,683,986 over the last three months. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently bought and sold shares of ZG. Norges Bank bought a new stake in Zillow Group during the second quarter valued at $159,770,000. Independent Franchise Partners LLP raised its position in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after acquiring an additional 21,862 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after purchasing an additional 1,600,097 shares during the period. Tiger Global Management LLC lifted its stake in shares of Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after purchasing an additional 240,690 shares during the period. Finally, UBS Group AG lifted its stake in shares of Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares during the period. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.