Zillow Group (NASDAQ:Z) Issues Earnings Results

Zillow Group (NASDAQ:Z) posted 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 net margin of 8.12% and a negative return on equity of 2.32%. The firm had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $509.30 million. During the same period last year, the firm posted ($0.06) EPS. Zillow Group updated its Q2 2024 guidance to EPS.

Zillow Group Price Performance

NASDAQ Z traded down $2.08 on Thursday, reaching $39.81. 7,560,580 shares of the stock traded hands, compared to its average volume of 3,884,799. The firm’s fifty day simple moving average is $49.08 and its 200 day simple moving average is $48.91. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.29 billion, a price-to-earnings ratio of -58.00 and a beta of 1.79. Zillow Group has a 12 month low of $33.80 and a 12 month high of $61.13.

Analysts Set New Price Targets

Several brokerages have recently weighed in on Z. Wedbush decreased their target price on Zillow Group from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday. Jefferies Financial Group increased their price target on Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Zillow Group has an average rating of “Hold” and a consensus target price of $56.20.

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 3,086 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $178,988.00. Following the completion of the sale, the insider now directly owns 48,294 shares in the company, valued at $2,801,052. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Dan Spaulding sold 3,086 shares of the firm’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 transaction, the insider now owns 48,294 shares in the company, valued at $2,801,052. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,289 shares of company stock valued at $9,642,508. 23.76% of the stock is owned by corporate insiders.

About Zillow Group

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.