Cantor Fitzgerald Raises Price Target for Zillow Group to $70.00

Cantor Fitzgerald has raised its price target for Zillow Group (NASDAQ:ZG) from $62.00 to $70.00, according to a report released on Wednesday. The firm has assigned a "neutral" rating to the company's stock, which suggests that they believe the stock is currently fairly valued. This updated price target indicates a potential downside of approximately 16.51% compared to the stock's previous closing price.

Market Analysis and Other Ratings

In addition to Cantor Fitzgerald, several other market analysts have also provided insights into Zillow Group. KeyCorp, for example, upgraded Zillow from a "sector weight" rating to an "overweight" rating earlier this month and set a target price of $100.00. Meanwhile, Robert W. Baird initiated coverage with a "neutral" rating and a target price of $88.00. Barclays recently increased its target price from $36.00 to $50.00, assigning an "underweight" rating. Craig Hallum gave Zillow a "buy" rating and raised the target price from $70.00 to $95.00. Lastly, Evercore ISI boosted its target price from $55.00 to $75.00 while maintaining an "outperform" rating. The overall consensus shows a mix of ratings; one analyst has issued a sell rating, six have provided a hold rating, and thirteen have given a buy rating. The average rating is considered a "Moderate Buy" with an average price target of $79.21.

Zillow Group's Stock Performance

On the day the report was released, Zillow Group's stock opened at $83.84. The company's market capitalization stands at about $19.58 billion. Zillow has a P/E ratio of -147.09, PEG ratio of 15.65, and a beta of 2.09. Moreover, the stock has had a 52-week low of $38.06 and a high of $86.58. As investors look forward, there is speculation about how potential interest rate cuts could influence Zillow Group’s performance.

Recent Earnings Report

Zillow Group announced its quarterly earnings on February 11, revealing that it reported a loss of ($0.22) earnings per share (EPS), which fell short of analysts’ expectations by ($0.48). The company also reported negative return on equity of 2.33% and a net margin of -6.17%. Moving forward, analysts predict Zillow will average around -0.42 EPS for the current year.

Insider Activity

In recent insider trading, CAO Jennifer Rock sold 8,225 shares for an average price of $73.05, totaling approximately $600,836.25. Following the transaction, she retains ownership of 61,424 shares. Similarly, CTO David A. Beitel sold 56,750 shares at an average price of $72.39, with total sales amounting to around $4,108,132.50. This sale significantly reduced his stake in the company. In total, insiders have sold approximately 142,730 shares valued at $10,896,034 in the last quarter alone, reflecting that 17.14% of the company’s stock is owned by insiders.

Institutional Investor Movements

In terms of institutional investors, several have bought or sold shares of Zillow Group recently. For instance, Blue Trust Inc. increased its position by 70.2% in the last quarter, acquiring additional shares to total 417 shares. Also, Assetmark Inc. ramped up its holdings by 18,875.0% from the previous quarter, while Jones Financial Companies Lllp raised their holdings by 24.0%. Overall, hedge funds and institutional investors collectively hold 20.32% of Zillow Group’s stock.

About Zillow Group

Zillow Group operates real estate brands in the United States through various mobile applications and websites. The company's services range from real estate marketplaces to mortgage origination and title services, making it a significant player in the real estate technology sector.

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