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What Is The Performance Outlook For Zillow Group Inc. (NASDAQ: Z) In The Coming Months?

In the last trading session, 7.05 million Zillow Group Inc. (NASDAQ:Z) shares changed hands as the company’s beta touched 1.67. With the company’s per share price at $47.43 changed hands at -$1.38 or -2.83% during last session, the market valuation stood at $10.96B. Z’s last price was a discount, traded about -20.58% off its 52-week high of $57.19. The share price had its 52-week low at $26.14, which suggests the last value was 44.89% up since then. When we look at Zillow Group Inc.’s average trading volume, we note the 10-day average is 2.3 million shares, with the 3-month average coming to 2.69 million.

Analysts gave the Zillow Group Inc. (Z) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 1 out of 26 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 14 recommended Z as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Zillow Group Inc.’s EPS for the current quarter is expected to be $0.23.

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Zillow Group Inc. (NASDAQ:Z) trade information

Instantly Z was in red as seen at the end of in last trading. With action -6.84%, the performance over the past five days has been red. The drop to weekly highs of 52.20 on Friday, 09/15/23 subtracted -2.83% to the stock’s daily price. The company’s shares are showing year-to-date upside of 47.25%, with the 5-day performance at -6.84% in the red. However, in the 30-day time frame, Zillow Group Inc. (NASDAQ:Z) is -8.03% down. Looking at the short shares, we see there were 19.14 million shares sold at short interest cover period of 7 days.

The consensus price target for the stock as assigned by Wall Street analysts is $56.53, meaning bulls need an upside of 16.1% from its current market value. According to analyst projections, Z’s forecast low is $36.00 with $68.00 as the target high. To hit the forecast high, the stock’s price needs a -43.37% plunge from its current level, while the stock would need to tank 24.1% for it to hit the projected low.

Zillow Group Inc. (Z) estimates and forecasts

Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Zillow Group Inc. will fall -39.50%. Year-over-year growth is forecast to reach -69.00% down from the last financial year.

Consensus estimates given by 21 financial analysts project the company’s revenue in the current quarter to hit an average of $480.12 million. 21 analysts are of the opinion that Zillow Group Inc.’s revenue for the quarter ending Dec 2023 will be $460.7 million. The company’s revenue for the corresponding quarters a year ago was $458.11 million and $435 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4.80%. The estimates for the next quarter sales put growth at 5.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 45.36%. The 2023 estimates are for Zillow Group Inc. earnings to decrease by -16.10%.

Z Dividends

Zillow Group Inc. is expected to release its next quarterly earnings report in October.

Zillow Group Inc. (NASDAQ:Z)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 9.72% of Zillow Group Inc. shares while 96.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 106.75%. There are 96.38% institutions holding the Zillow Group Inc. stock share, with Caledonia (Private) Investments Pty Ltd the top institutional holder. As of Jun 29, 2023, the company held 21.42% of the shares, roughly 36.39 million Z shares worth $1.73 billion.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 13.41% or 22.79 million shares worth $1.08 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Apr 29, 2023 were Vanguard Specialized-Real Estate Index Fund and Pacer U.S. Cash Cows 100 ETF. With 6.85 million shares estimated at $324.79 million under it, the former controlled 4.03% of total outstanding shares. On the other hand, Pacer U.S. Cash Cows 100 ETF held about 3.79% of the shares, roughly 6.44 million shares worth around $305.4 million.

On Key

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