Zillow Group Inc (NASDAQ:Z), which houses a portfolio of the largest and most vibrant rental, real estate and home-related brands on mobile and Web, added more multifamily partners to the Zillow® Rental Network in the past year than ever before, increasing new partnerships 84 percent year-over-year, from Q1 2014 to Q1 2015.
Many of the largest property management companies in the country are already leveraging the Zillow Rental Network as part of their marketing strategies; nearly 90 percent of the National Multifamily Housing Council 50 Largest Apartment Managers count themselves as Zillow Rental Network customers.
“The Zillow Rental Network’s customer service and overall value are fantastic – but what really drew us to them was their vision for the future,” Kevin Thompson, senior vice president of marketing of Bell Partners. “During our initial pilot,Zillow has performed above our expectations. On cost per lead basis, Zillow Rental Network beat all other internet listing services and our own website results.”
Zillow Group closed its acquisition of Trulia in February. Within a few weeks, the rentals businesses were completely integrated, with the sales team working cohesively together on behalf of multifamily partners. Now, rental shoppers who visit Trulia or Trulia’s mobile apps have access to hundreds of thousands of rental listings powered by the Zillow Rental Network.
Traffic from mobile web and Zillow’s rental applications had a hugely positive impact on multifamily partners this year. More than 72 percent of the new contacts that came to property managers in March 2015 came through Zillow’s mobile rental applications and mobile web.
“As we’ve grown in size and strength in the past year, our partners are experiencing more success with the Zillow Rental Network than ever before,” said Greg Schwartz, Zillow Group chief revenue officer. “In the past year, we’ve improved the technology and product offerings to our multifamily customers, as well as added Trulia’s 55 million monthly unique visitors1 to the Zillow Rental Network, offering our partners a significantly expanded audience through a streamlined customer service experience.” (Original Source)
Shares of Zillow closed last Friday at $97.73 . Z has a 1-year high of $164.90 and a 1-year low of $81.07. The stock’s 50-day moving average is $100.10 and its 200-day moving average is $106.31.
On the ratings front, Zillow has been the subject of a number of recent research reports. In a report issued on April 15, Canaccord Genuity analyst Michael Graham maintained a Buy rating on Z, with a price target of $115, which implies an upside of 17.7% from current levels. Separately, on the same day, Suntrust Robinson Humphrey’s Robert Peck maintained a Hold rating on the stock and has a price target of $110.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Graham and Robert Peck have a total average return of 15.5% and 12.0% respectively. Graham has a success rate of 57.5% and is ranked #159 out of 3590 analysts, while Peck has a success rate of 59.0% and is ranked #330.
In total, 6 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $97.73 which is 19.2% above where the stock closed last Friday.
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.