Zillow Group (NASDAQ:Z) Releases Quarterly Earnings Results, Misses Expectations By $0.42 EPS

Zillow Group (NASDAQ:Z) posted its quarterly earnings data on Wednesday. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $509.30 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. Zillow Group updated its Q2 2024 guidance to EPS.

Zillow Group Price Performance

NASDAQ:Z traded down $2.14 during midday trading on Thursday, hitting $39.75. 6,915,723 shares of the stock were exchanged, compared to its average volume of 3,875,816. Zillow Group has a one year low of $33.80 and a one year high of $61.13. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -58.00 and a beta of 1.79. The business has a 50-day moving average price of $49.08 and a two-hundred day moving average price of $48.91. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group upped their price objective on Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Thursday. JPMorgan Chase & Co. lowered their target price on Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wedbush decreased their price objective on Zillow Group from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group has a consensus rating of “Hold” and a consensus target price of $56.20.

Insider Buying and Selling

In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was 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 of the company’s stock, valued at $2,801,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total transaction of $178,988.00. Following the sale, the insider now directly owns 48,294 shares of the company’s stock, valued at approximately $2,801,052. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock valued at $9,642,508 over the last quarter. Corporate insiders own 23.76% of the company’s stock.

Zillow Group Company Profile

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.