Zillow Group, Inc. (NASDAQ:ZG) to Post Q1 2023 Earnings of ($0.13) Per Share, Jefferies Financial Group Forecasts

Posted by Defense World Staff on Apr 28th, 2023

Zillow Group, Inc. (NASDAQ:ZG – Get Rating) – Equities researchers at Jefferies Financial Group raised their Q1 2023 EPS estimates for shares of Zillow Group in a research report issued on Monday, April 24th. Jefferies Financial Group analyst J. Colantuoni now anticipates that the technology company will post earnings per share of ($0.13) for the quarter, up from their prior forecast of ($0.26). The consensus estimate for Zillow Group’s current full-year earnings is ($0.74) per share. Jefferies Financial Group also issued estimates for Zillow Group’s Q2 2023 earnings at ($0.07) EPS, Q3 2023 earnings at ($0.04) EPS, Q4 2023 earnings at ($0.14) EPS, FY2023 earnings at ($0.37) EPS, FY2024 earnings at $0.41 EPS and FY2025 earnings at $0.98 EPS.

Zillow Group (NASDAQ:ZG – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The technology company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $414.39 million. Zillow Group had a negative net margin of 1.63% and a negative return on equity of 0.54%.

Several other research analysts have also commented on ZG. Barclays boosted their price objective on shares of Zillow Group from $24.00 to $30.00 and gave the stock a “sell” rating in a research note on Wednesday, March 8th. JPMorgan Chase & Co. started coverage on shares of Zillow Group in a research note on Monday, February 27th. They set an “overweight” rating and a $48.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $52.00 price objective on shares of Zillow Group in a research note on Wednesday, February 15th. Evercore ISI upgraded shares of Zillow Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $34.00 to $61.00 in a research note on Monday, February 13th. Finally, Bank of America upgraded shares of Zillow Group from an “underperform” rating to a “buy” rating and upped their price target for the company from $22.00 to $42.00 in a research note on Monday, January 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Hold” and a consensus price target of $44.30.

Zillow Group Trading Up 2.4 %

NASDAQ:ZG opened at $41.72 on Thursday. Zillow Group has a one year low of $26.21 and a one year high of $48.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 13.34 and a current ratio of 13.34. The firm has a market cap of $9.78 billion, a P/E ratio of -94.82 and a beta of 1.72. The firm has a 50-day simple moving average of $42.31 and a 200-day simple moving average of $38.25.

Insider Activity

In related news, insider Susan Daimler sold 4,103 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $46.36, for a total transaction of $190,215.08. Following the completion of the sale, the insider now directly owns 28,486 shares in the company, valued at $1,320,610.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Zillow Group news, insider Errol G. Samuelson sold 4,185 shares of the stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $42.95, for a total transaction of $179,745.75. Following the completion of the transaction, the insider now owns 162,165 shares of the company’s stock, valued at $6,964,986.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan Daimler sold 4,103 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $46.36, for a total transaction of $190,215.08. Following the transaction, the insider now directly owns 28,486 shares of the company’s stock, valued at approximately $1,320,610.96. The disclosure for this sale can be found here. Insiders sold 45,022 shares of company stock worth $2,089,941 over the last three months. Insiders own 18.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZG. Wipfli Financial Advisors LLC purchased a new position in Zillow Group in the third quarter worth approximately $29,000. Ellevest Inc. lifted its stake in Zillow Group by 179.8% in the fourth quarter. Ellevest Inc. now owns 943 shares of the technology company’s stock worth $29,000 after acquiring an additional 606 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Zillow Group by 69.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the technology company’s stock worth $53,000 after acquiring an additional 441 shares during the last quarter. Point72 Middle East FZE purchased a new position in Zillow Group in the fourth quarter worth approximately $64,000. Finally, Advisors Asset Management Inc. lifted its stake in Zillow Group by 132.4% in the fourth quarter. Advisors Asset Management Inc. now owns 3,305 shares of the technology company’s stock worth $103,000 after acquiring an additional 1,883 shares during the last quarter. Hedge funds and other institutional investors own 20.21% of the company’s stock.

Zillow Group Company Profile

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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, and Technology (IMT), Mortgages, and Homes. The IMT segment includes premier agent, rentals marketplaces, and new construction marketplaces, and sale of other advertising and business technology solutions for real estate professionals.