Zillow Group, Inc. (NASDAQ:ZG) Expected to Announce Quarterly Sales of $1.10 Billion

Brokerages expect Zillow Group, Inc. (NASDAQ:ZG) to report sales of $1.10 billion for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Zillow Group’s earnings. The highest sales estimate is $1.11 billion and the lowest is $1.10 billion. Zillow Group reported sales of $1.13 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.7%. The business is expected to report its next quarterly earnings report on Thursday, May 6th.

On average, analysts expect that Zillow Group will report full-year sales of $5.53 billion for the current fiscal year, with estimates ranging from $5.09 billion to $5.74 billion. For the next year, analysts anticipate that the company will report sales of $8.27 billion, with estimates ranging from $7.06 billion to $9.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Zillow Group.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, February 10th. The technology company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.13. The business had revenue of $788.95 million during the quarter, compared to analysts’ expectations of $741.17 million. Zillow Group had a negative net margin of 11.54% and a negative return on equity of 9.76%. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.26) earnings per share.

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Zillow Group from $159.00 to $209.00 and gave the company an “overweight” rating in a research report on Thursday, February 11th. The Goldman Sachs Group upgraded shares of Zillow Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 16th. Truist raised their price objective on shares of Zillow Group from $134.00 to $158.00 in a research report on Monday, December 21st. DA Davidson raised their price objective on shares of Zillow Group from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. Finally, BTIG Research raised their price objective on shares of Zillow Group from $169.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $167.96.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Zillow Group by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 37,537 shares of the technology company’s stock worth $3,806,000 after acquiring an additional 1,614 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Zillow Group by 151.1% in the third quarter. Great West Life Assurance Co. Can now owns 19,878 shares of the technology company’s stock worth $896,000 after acquiring an additional 11,963 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Zillow Group by 5.4% in the third quarter. UBS Asset Management Americas Inc. now owns 29,500 shares of the technology company’s stock worth $2,995,000 after acquiring an additional 1,519 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Zillow Group in the third quarter worth approximately $270,000. Finally, Squarepoint Ops LLC lifted its stake in Zillow Group by 172.9% in the third quarter. Squarepoint Ops LLC now owns 27,312 shares of the technology company’s stock worth $2,773,000 after acquiring an additional 17,305 shares during the last quarter. 25.98% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ ZG opened at $141.37 on Thursday. The firm has a 50-day simple moving average of $152.49 and a 200-day simple moving average of $132.04. The stock has a market capitalization of $34.02 billion, a price-to-earnings ratio of -72.13 and a beta of 1.31. The company has a quick ratio of 9.73, a current ratio of 10.08 and a debt-to-equity ratio of 0.45. Zillow Group has a 52 week low of $32.77 and a 52 week high of $212.40.

About Zillow Group

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and websites in the United States. It operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The company's mobile applications and websites offers various real estate transactions and related services, including buying, selling, renting, and financing services for residential real estate properties; purchase and sale of homes; title and escrow services; title insurance products and services; and mortgage loans.

Read More: How much money do you need to begin day trading?

Get a free copy of the Zacks research report on Zillow Group (ZG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Zillow Group (NASDAQ:ZG)

Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.