Zillow Group Inc (NASDAQ:Z), which houses a portfolio of the largest and most vibrant real estate and home-related brands on mobile and Web, today announced it will begin offering its industry partners access to free public record data with broad usage rights, through a new program, Zillow Group Data Connect (ZGDC).
Organizations like multiple listing services can spend hundreds of thousands of dollars annually to buy or license public record data, and only receive updates to this data periodically. MLSs use this data to help members create listings, and they share the data with members who use it to research their market, speed up listing input and help with prospecting and business development.
In addition to public record data, ZGDC will offer MLSs the opportunity to receive, and share with members, dynamic, frequently-updated data from Zillow, such as the Zestimate® and user-contributed data, like updates about renovations. As most public record data currently available to MLSs is static – never learning new details about the property or adding more details from other sources – this new source of data will give MLSs the freedom to innovate and build products and services for their members.
“One of Zillow Group’s top priorities is to be an excellent partner to the real estate industry, as we innovate on behalf of home buyers and sellers,” said Errol Samuelson, Zillow Group chief industry development officer. “I’m thrilled to be able to offer this incredibly valuable, important program to our MLS partners. Providing this kind of information, for free and with very few usage restrictions, will continue to drive technology and innovation forward within the real estate industry.”
Zillow Group’s new program will allow partner MLSs to access information about properties, including mortgage information, tax rate, physical attributes, and mailing addresses, in addition to proprietary Zillow data. (Original Source)
Shares of Zillow opened today at $95.18 and are currently trading up at $96.69. Zillow has a 1-year high of $164.90 and a 1-year low of $81.07. The stock’s 50-day moving average is $104.99 and its 200-day moving average is $107.35.
On the ratings front, Zillow has been the subject of a number of recent research reports. In a report released yesterday, Suntrust Robinson Humphrey analyst Robert Peck maintained a Hold rating on Z, with a price target of $110, which implies an upside of 15.6% from current levels. Separately, on the same day, Barclays’ Christopher Merwin maintained a Hold rating on the stock and has a price target of $95.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Peck and Christopher Merwin have a total average return of 15.1% and -5.4% respectively. Peck has a success rate of 62.1% and is ranked #253 out of 3572 analysts, while Merwin has a success rate of 54.5% and is ranked #3205.
The street is mostly Neutral on Z stock. Out of 17 analysts who cover the stock, 9 suggest a Hold rating, 7 suggest a Buy and one recommend to Sell the stock. The 12-month average price target assigned to the stock is $122.79, which represents a potential upside of 29.0% from where the stock is currently trading.
Zillow Group Incoperates the real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products to help people find vital information about homes and connect with local professionals.