Zillow Group Inc Class A (ZG) PT Lowered to $46.00

Zillow Group Inc Class A (NASDAQ:ZG) had its price target decreased by analysts at Royal Bank of Canada to $46.00 in a report issued on Tuesday, August 7th, The Fly reports. The brokerage presently has an “in-line” rating on the technology company’s stock. Royal Bank of Canada’s price target points to a potential downside of 4.37% from the stock’s current price.

A number of other research firms also recently weighed in on ZG. KeyCorp decreased their price target on shares of Zillow Group Inc Class A from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, April 13th. Bank of America raised their price target on shares of Zillow Group Inc Class A from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 11th. DA Davidson decreased their price target on shares of Zillow Group Inc Class A to $57.00 and set a “neutral” rating for the company in a research report on Monday, April 16th. They noted that the move was a valuation call. Goldman Sachs Group downgraded shares of Zillow Group Inc Class A from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Monday, June 18th. Finally, Needham & Company LLC raised their price target on shares of Zillow Group Inc Class A from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, April 13th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.18.

NASDAQ:ZG traded up $0.21 during trading hours on Tuesday, hitting $48.10. The stock had a trading volume of 438,700 shares, compared to its average volume of 553,267. The company has a quick ratio of 8.13, a current ratio of 8.18 and a debt-to-equity ratio of 0.14. Zillow Group Inc Class A has a 1-year low of $37.96 and a 1-year high of $65.42. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 320.93 and a beta of 0.73.

Zillow Group Inc Class A (NASDAQ:ZG) last issued its quarterly earnings data on Monday, August 6th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.19. Zillow Group Inc Class A had a negative net margin of 7.54% and a positive return on equity of 0.23%. The company had revenue of $325.25 million during the quarter, compared to the consensus estimate of $325.52 million. During the same quarter last year, the company earned $0.04 earnings per share. Zillow Group Inc Class A’s revenue for the quarter was up 21.9% on a year-over-year basis. equities analysts anticipate that Zillow Group Inc Class A will post -0.14 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in ZG. Morgan Stanley boosted its holdings in Zillow Group Inc Class A by 982.4% in the second quarter. Morgan Stanley now owns 1,764,950 shares of the technology company’s stock worth $105,457,000 after purchasing an additional 1,601,885 shares during the period. Caledonia Private Investments Pty Ltd boosted its holdings in Zillow Group Inc Class A by 3.4% in the first quarter. Caledonia Private Investments Pty Ltd now owns 14,590,510 shares of the technology company’s stock worth $787,888,000 after purchasing an additional 485,197 shares during the period. State of Wisconsin Investment Board lifted its stake in Zillow Group Inc Class A by 37.8% in the second quarter. State of Wisconsin Investment Board now owns 1,055,864 shares of the technology company’s stock valued at $63,088,000 after buying an additional 289,824 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its stake in Zillow Group Inc Class A by 202.9% in the second quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 357,858 shares of the technology company’s stock valued at $21,382,000 after buying an additional 239,732 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Zillow Group Inc Class A by 10.8% in the second quarter. BlackRock Inc. now owns 2,096,552 shares of the technology company’s stock valued at $125,268,000 after buying an additional 204,886 shares during the last quarter. 25.63% of the stock is owned by hedge funds and other institutional investors.

About Zillow Group Inc Class A

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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