Is Zillow Group Inc’s (NASDAQ: Z) Stock Ready For A Price Spike?

In the last trading session, 3.38 million shares of the Zillow Group Inc (NASDAQ:Z) were traded, and its beta was 1.79. Most recently the company’s share price was $43.63, and it changed around $1.39 or 3.29% from the last close, which brings the market valuation of the company to $10.30B. Z currently trades at a discount to its 52-week high of $61.13, offering almost -40.11% off that amount. The share price’s 52-week low was $33.80, which indicates that the current value has risen by an impressive 22.53% since then. We note from Zillow Group Inc’s average daily trading volume that its 3-month average coming to 4.06 million.

Zillow Group Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.11. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 3 recommended Z as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Zillow Group Inc is expected to report earnings per share of $0.33 for the current quarter.

Zillow Group Inc (NASDAQ:Z) trade information

Instantly Z has showed a green trend with a performance of 3.29% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -24.59% year-to-date, but still up 0.69% over the last five days. On the other hand, Zillow Group Inc (NASDAQ:Z) is -14.16% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $41.25, which translates to bulls needing to decrease their stock price by -5.77% from its current value. Analyst projections state that Z is forecast to be at a low of $33 and a high of $50.

Zillow Group Inc (Z) estimates and forecasts

Zillow Group Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 11.99 percent over the past six months and at a 32.54% annual growth rate that is well above the industry average of 5.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -5.70% in revenue this quarter, and will report an increase of 10.30% in the next quarter. The year-over-year growth rate is expected to be 11.80%, up from the previous year.

Consensus estimates provided by 21 financial analysts predict the company will bring in an average of $507.14 million in revenue for the current quarter. 21 analysts expect Zillow Group Inc to make $559.56 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $424.08 million and $472.3 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.60%. Forecasts for the next quarter put sales growth at 18.50%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -2.24%. Zillow Group Inc earnings are expected to increase by 13.87% in 2024, but the outlook is positive 6.20% per year for the next five years.