Zillow Group (NASDAQ:ZG) Stock Rating Lowered by BidaskClub

Zillow Group (NASDAQ:ZG) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity reduced their price objective on Zillow Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Craig Hallum lifted their price objective on Zillow Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Jefferies Financial Group lifted their price objective on Zillow Group from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Deutsche Bank lifted their price objective on Zillow Group from $33.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Finally, Bank of America lifted their price objective on Zillow Group from $31.00 to $35.00 and gave the stock an “underperform” rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Zillow Group has an average rating of “Hold” and a consensus target price of $45.81.

ZG opened at $35.07 on Wednesday. The stock has a 50-day moving average price of $44.99 and a 200-day moving average price of $40.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.67 and a quick ratio of 2.76. The firm has a market cap of $7.32 billion, a PE ratio of -134.88 and a beta of 0.83. Zillow Group has a 1 year low of $26.20 and a 1 year high of $50.99.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.07. The firm had revenue of $599.58 million during the quarter, compared to analyst estimates of $585.11 million. Zillow Group had a negative return on equity of 5.12% and a negative net margin of 13.49%. Zillow Group’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) EPS. As a group, sell-side analysts anticipate that Zillow Group will post -1.62 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. UBS Group AG grew its position in shares of Zillow Group by 70.2% during the 2nd quarter. UBS Group AG now owns 624,939 shares of the technology company’s stock worth $28,597,000 after buying an additional 257,682 shares in the last quarter. Concourse Capital Management LLC bought a new position in shares of Zillow Group during the 2nd quarter worth $318,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Zillow Group by 13.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,214 shares of the technology company’s stock worth $195,000 after buying an additional 494 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of Zillow Group by 2.9% during the 2nd quarter. Bamco Inc. NY now owns 2,434,684 shares of the technology company’s stock worth $111,411,000 after purchasing an additional 67,502 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Zillow Group during the 2nd quarter worth $10,464,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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