Zillow stock plunges 20% after disappointing forecast [MarketWatch]
Zillow Group, Inc. - Class C Capital Stock (Z)
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm
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Source: MarketWatch
Zillow stock plunges 20% after disappointing forecast Zillow Group Inc. ZG, +0.74% shares plunged 20% in late trading Tuesday after the online real-estate company disappointed investors with its forecast. Zillow reported a third-quarter loss of almost half a million dollars, less than a penny a share, on revenue of $343.1 million, up from $282 million a year ago. Analysts on average expected a loss of a penny a share on sales of $344 million. The big miss was in the forecast, which included decreasing the company's goal for full-year adjusted profit "to reflect lower than anticipated Premier Agent revenue and increased expenses, primarily headcount-related, as a result of higher-than-anticipated recruiting and relocation costs, and the impact of compensation inflation from the highly competitive job market," Zillow executives said in a letter to investors. Zillow guided for $340 million to $357 million in the fourth quarter, while analysts on average were expecting sales of $368 mi
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News
- 44% of adults would buy their childhood home today if they could afford itPR Newswire
- Zillow Group, Inc. (NASDAQ: Z) had its price target lowered by analysts at JPMorgan Chase & Co. from $65.00 to $61.00. They now have an "overweight" rating on the stock.MarketBeat
- Zillow Group, Inc. (NASDAQ: Z) had its price target lowered by analysts at Wedbush from $60.00 to $50.00. They now have a "neutral" rating on the stock.MarketBeat
- Zillow Group, Inc. (NASDAQ: Z) had its "hold" rating re-affirmed by analysts at Needham & Company LLC.MarketBeat
- Zillow Group Reports First-Quarter 2024 Financial ResultsPR Newswire
Z
Earnings
- 5/1/24 - Beat