Analyst John Colantuoni from Jefferies maintained a Buy rating on Zillow Group Class C (Z – Research Report) and keeping the price target at $110.00.
John Colantuoni has given his Buy rating due to a combination of factors that position Zillow Group Class C favorably in the current housing market. The housing market’s performance through February has surpassed Zillow’s first-quarter expectations, enhancing the likelihood of the company achieving a 14th consecutive revenue beat. This positive outlook is supported by the housing recovery, the introduction of new products, and Zillow’s leading position among peers.
Colantuoni believes that Zillow is well-positioned to capitalize on the pent-up demand in the housing market, despite elevated interest rates. The company’s potential to outperform in the first quarter is bolstered by the acceleration in mortgage application volumes, which indicates strong future transaction activity. Additionally, Zillow’s guidance for fiscal year 2025 suggests an acceleration in revenue growth, further reinforcing the Buy rating.
Based on the recent corporate insider activity of 99 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of Z in relation to earlier this year.
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