Shares of Zillow Group, Inc. (NASDAQ:ZG) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $47.86, but opened at $54.63. Zillow Group shares last traded at $53.89, with a volume of 41,453 shares. The technology company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $1.03. Zillow Group had a negative return on equity of 3.07% and a negative net margin of 4.36%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the business posted $0.20 EPS. Zillow Group’s quarterly revenue was up 392.1% on a year-over-year basis.
Several equities research analysts have recently issued reports on ZG shares. Zacks Investment Research upgraded Zillow Group from a “strong sell” rating to a “hold” rating and set a $65.00 price objective on the stock in a report on Wednesday, December 8th. Truist Financial decreased their price objective on Zillow Group from $83.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, January 31st. Piper Sandler decreased their price objective on Zillow Group from $68.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday. Stephens reduced their target price on Zillow Group from $217.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, November 3rd. Finally, BTIG Research reiterated a “hold” rating on shares of Zillow Group in a report on Sunday, December 5th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.56.
Several large investors have recently added to or reduced their stakes in ZG. Wells Fargo & Company MN lifted its holdings in shares of Zillow Group by 27.0% during the second quarter. Wells Fargo & Company MN now owns 75,227 shares of the technology company’s stock worth $9,217,000 after buying an additional 15,970 shares in the last quarter. Mint Tower Capital Management B.V. bought a new position in Zillow Group during the third quarter worth $505,000. Morgan Stanley increased its stake in Zillow Group by 1.4% in the second quarter. Morgan Stanley now owns 3,106,104 shares of the technology company’s stock valued at $380,590,000 after purchasing an additional 41,842 shares in the last quarter. Raymond James & Associates increased its stake in Zillow Group by 1.7% in the third quarter. Raymond James & Associates now owns 213,246 shares of the technology company’s stock valued at $18,889,000 after purchasing an additional 3,602 shares in the last quarter. Finally, Marathon Partners Equity Management LLC bought a new stake in Zillow Group in the second quarter valued at $3,063,000. 20.58% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of -61.94 and a beta of 1.44. The business’s fifty day moving average price is $55.59 and its 200-day moving average price is $76.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.52 and a quick ratio of 1.31.
Zillow Group Company Profile (NASDAQ:ZG)
Zillow Group, Inc engages in the provision of real estate and home-related information marketplaces on mobile and the web. It operates through the following segments: Internet, Media & Technology (IMT), Homes and Mortgages segment. The IMT segment includes premier agent, rentals and new construction marketplaces, as well as dotloop, display and other advertising and business software solutions.