Zillow Group Inc (ZG) received a Buy rating and a $58 price target from SunTrust Robinson analyst Naved Khan today. The company’s shares opened today at $48.17.
Khan said:
“We believe that raised FY19 outlook for IMT, along with strong execution in Homes have contributed to the recent stock run (40+% since 1Q earnings vs. +4% for a favorable Fed rate outlook in June likely helping. We note however that the stock is still down 23% Y/Y and see room for meaningful upside for LT investors from the company’s ambitious foray into the Homes segment, which opens up a $1.8T opportunity and is in early stages of build-out. While we estimate this will shrink gross margin by 30+ points and EBITDA margin by 14 points this year, we expect Homes to be nicely accretive to EBITDA/FCF at scale. Competitive Advantages.”
According to TipRanks.com, Khan is a top 100 analyst with an average return of 21.8% and a 76.9% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Wix.com Ltd, and trivago NV.
Currently, the analyst consensus on Zillow Group Inc is a Hold with an average price target of $43.92.
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The company has a one-year high of $64.66 and a one-year low of $26.20. Currently, Zillow Group Inc has an average volume of 989.5K.
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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.
