Citigroup Lowers Zillow Group (NASDAQ:ZG) Price Target to $58.00

Zillow Group (NASDAQ:ZG) had its target price lowered by analysts at Citigroup from $68.00 to $58.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price target suggests a potential upside of 48.00% from the company’s previous close.

A number of other research firms have also weighed in on ZG. JMP Securities lowered their target price on Zillow Group from $68.00 to $62.00 and set a “market outperform” rating for the company in a report on Thursday. Piper Sandler raised their price objective on Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Stephens reiterated an “overweight” rating and issued a $79.00 target price on shares of Zillow Group in a report on Wednesday, February 14th. Barclays lowered their price target on shares of Zillow Group from $40.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada reduced their price objective on shares of Zillow Group from $66.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.25.

Zillow Group Price Performance

ZG stock traded down $2.25 during trading on Thursday, hitting $39.19. 1,539,786 shares of the company’s stock traded hands, compared to its average volume of 693,094. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of -57.41 and a beta of 1.87. Zillow Group has a 52 week low of $33.23 and a 52 week high of $59.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24. The business has a fifty day simple moving average of $47.91 and a 200 day simple moving average of $47.61.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.06. The business had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. As a group, research analysts expect that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In related news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the completion of the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Amy Bohutinsky sold 93,750 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total value of $5,314,687.50. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares in the company, valued at $996,669.81. The disclosure for this sale can be found here. In the last three months, insiders sold 171,289 shares of company stock valued at $9,642,508. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC acquired a new position in Zillow Group in the first quarter worth about $32,000. Naples Money Management LLC bought a new position in shares of Zillow Group in the first quarter worth $1,230,000. Principal Financial Group Inc. bought a new stake in shares of Zillow Group during the 1st quarter worth about $219,000. Assenagon Asset Management S.A. lifted its holdings in shares of Zillow Group by 244.2% in the first quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock valued at $8,226,000 after buying an additional 121,942 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Zillow Group by 1.7% during the 1st quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock valued at $8,634,000 after purchasing an additional 2,999 shares in the last quarter. Hedge funds and other institutional investors 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.