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Oppenheimer analyst Jason Helfstein maintained a Hold rating on Zillow Group Inc (ZG) yesterday. The company’s shares closed yesterday at $36.43.
Helfstein commented:
“We are updating our model to reflect five-year targets for the impact of the balance sheet. We forecast Premier Agent/IMT 2018-23 revenue Homes revenue reaching $6.5B on 1,775 monthly transactions. We expect Homes to accelerate revenue, but represent a significant drag on EBITDA until 2022. We predict a focus on with mortgage loans held for sale and revenue accelerating in 2020 and beyond. We remain on the sidelines as we wait for evidence of a turnaround in Premier Agent, proof of execution in Homes, and a pickup in US Housing transactions.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 18.8% and a 67.2% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
Currently, the analyst consensus on Zillow Group Inc is a Hold with an average price target of $38.60.
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Based on Zillow Group Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $97.68 million. In comparison, last year the company had a GAAP net loss of $18.59 million.
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Zillow Group, Inc. engages in the provision of real estate and home-related information marketplaces on mobile and the web. The company operates through the following segments: Internet, Media & Technology (IMT), Homes and Mortgages segment.
