Zillow Group Inc. [NASDAQ: Z] price plunged by -1.53 percent to reach at -$0.65. The company report on January 19, 2023 that Seasonal cooling, cost strains bring housing market closer to ‘normal’.
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Lower mortgage rates bring monthly costs down, but the housing market is still reeling from affordability problems.
The share of homes sold above list price fell to 28%, the lowest rate since June 2020.
A sum of 3257811 shares traded at recent session while its average daily volume was at 4.01M shares. Zillow Group Inc. shares reached a high of $42.47 and dropped to a low of $41.485 until finishing in the latest session at $41.81.
The one-year Z stock forecast points to a potential downside of -4.97. The average equity rating for Z stock is currently 2.50, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Zillow Group Inc. [Z]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for Z shares is $39.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on Z stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Zillow Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 03, 2022. The new note on the price target was released on August 03, 2020, representing the official price target for Zillow Group Inc. stock. Previously, the target price had yet another raise to $80, while Needham analysts kept a Buy rating on Z stock.
The Average True Range (ATR) for Zillow Group Inc. is set at 1.59, with the Price to Sales ratio for Z stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 2.16.
Z Stock Performance Analysis:
Zillow Group Inc. [Z] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.28. With this latest performance, Z shares gained by 15.98% in over the last four-week period, additionally plugging by 13.34% over the last 6 months – not to mention a drop of -22.67% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for Z stock in for the last two-week period is set at 66.03, with the RSI for the last a single of trading hit 68.04, and the three-weeks RSI is set at 63.53 for Zillow Group Inc. [Z]. The present Moving Average for the last 50 days of trading for this stock 36.36, while it was recorded at 42.76 for the last single week of trading, and 36.13 for the last 200 days.
Insight into Zillow Group Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Zillow Group Inc. [Z] shares currently have an operating margin of -3.02 and a Gross Margin at +26.53. Zillow Group Inc.’s Net Margin is presently recorded at -6.48.
Return on Equity for this stock declined to -10.47, with Return on Assets sitting at -5.81.
Zillow Group Inc. [Z] Insider Position Details
There are presently around $6,818 million, or 95.32% of Z stock, in the hands of institutional investors. The top three institutional holders of Z stocks are: CALEDONIA (PRIVATE) INVESTMENTS PTY LTD with ownership of 36,394,056, which is approximately 0% of the company’s market cap and around 9.48% of the total institutional ownership; VANGUARD GROUP INC, holding 22,859,360 shares of the stock with an approximate value of $955.75 million in Z stocks shares; and INDEPENDENT FRANCHISE PARTNERS LLP, currently with $584.77 million in Z stock with ownership of nearly 1.309% of the company’s market capitalization.
Positions in Zillow Group Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 156 institutional holders increased their position in Zillow Group Inc. [NASDAQ:Z] by around 11,352,587 shares. Additionally, 205 investors decreased positions by around 22,712,815 shares, while 78 investors held positions by with 128,994,986 shares. The mentioned changes placed institutional holdings at 163,060,388 shares, according to the latest SEC report filing. Z stock had 56 new institutional investments in for a total of 4,592,002 shares, while 51 institutional investors sold positions of 5,563,958 shares during the same period.