Equities analysts expect Zillow Group, Inc. (NASDAQ:ZG) to announce $276.80 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Zillow Group’s earnings, with estimates ranging from $275.71 million to $278.10 million. Zillow Group posted sales of $224.59 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.2%. The business is scheduled to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that Zillow Group will report full year sales of $276.80 million for the current financial year, with estimates ranging from $1.06 billion to $1.08 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.28 billion per share, with estimates ranging from $1.26 billion to $1.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Zillow Group.
Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Zillow Group had a negative return on equity of 0.40% and a negative net margin of 4.47%. The firm had revenue of $266.85 million for the quarter, compared to the consensus estimate of $262.21 million. During the same quarter in the prior year, the firm earned ($0.71) EPS. The company’s revenue was up 28.0% on a year-over-year basis.
Several equities research analysts recently commented on ZG shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $49.00 target price (up from $48.00) on shares of Zillow Group in a report on Thursday, August 10th. Canaccord Genuity raised their target price on Zillow Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Needham & Company LLC raised their target price on Zillow Group from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Zillow Group from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Wednesday, August 16th. Finally, ValuEngine downgraded Zillow Group from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.07.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in shares of Zillow Group in the 2nd quarter worth approximately $161,000. UBS Asset Management Americas Inc. acquired a new position in shares of Zillow Group in the 4th quarter worth approximately $200,000. Stifel Financial Corp acquired a new position in shares of Zillow Group in the 2nd quarter worth approximately $209,000. Norris Perne & French LLP MI acquired a new position in shares of Zillow Group in the 2nd quarter worth approximately $232,000. Finally, Connable Office Inc. acquired a new position in shares of Zillow Group in the 2nd quarter worth approximately $245,000. Institutional investors own 26.13% of the company’s stock.
Shares of Zillow Group (NASDAQ:ZG) traded up 2.47% during midday trading on Monday, hitting $39.87. The stock had a trading volume of 334,399 shares. The company’s market cap is $7.39 billion. The stock’s 50-day moving average price is $41.82 and its 200 day moving average price is $40.88. Zillow Group has a 52 week low of $31.17 and a 52 week high of $50.91.
About Zillow Group
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 people 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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