Zillow Group (NASDAQ:Z) Issues Earnings Results, Misses Estimates By $0.42 EPS

Zillow Group (NASDAQ:Z) issued its quarterly earnings results on Wednesday. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.42), Zacks reports. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. The firm had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $509.30 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. Zillow Group updated its Q2 2024 guidance to EPS.

Zillow Group Price Performance

Shares of NASDAQ Z traded down $2.14 during trading on Thursday, hitting $39.75. 6,915,723 shares of the company were exchanged, compared to its average volume of 3,875,816. The company has a market cap of $9.28 billion, a price-to-earnings ratio of -58.00 and a beta of 1.79. Zillow Group has a 1 year low of $33.80 and a 1 year high of $61.13. The firm’s fifty day moving average price is $49.08 and its 200 day moving average price is $48.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday. Wedbush cut their target price on shares of Zillow Group from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group lifted their target price on shares of Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Hold” and a consensus target price of $56.20.

Insiders Place Their Bets

In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total transaction of $178,988.00. Following the sale, the insider now directly owns 48,294 shares in the company, valued at approximately $2,801,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total value of $178,988.00. Following the sale, the insider now directly owns 48,294 shares in the company, valued at approximately $2,801,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeremy Hofmann sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $268,888.00. Following the completion of the sale, the chief financial officer now owns 104,251 shares in the company, valued at $6,046,558. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,289 shares of company stock worth $9,642,508. Corporate insiders own 23.76% 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.