Analyst John Colantuoni from Jefferies reiterated a Buy rating on Zillow Group Class C (Z – Research Report) and decreased the price target to $100.00 from $110.00.
John Colantuoni has given his Buy rating due to a combination of factors that highlight Zillow Group’s strategic positioning and growth potential. The recent changes in listing standards by Zillow aim to enhance transparency for buyers and reduce the attractiveness of private listing networks. This move is expected to strengthen Zillow’s position as a leading platform for real estate listings by ensuring that consumers have access to real-time information.
Additionally, Colantuoni emphasizes the positive outlook for Zillow’s core business, particularly the Premier Agent segment, which is projected to benefit from a significant recovery in housing transaction value over the next few years. The expansion of new products is anticipated to contribute substantially to revenue growth, while the company’s low variable costs are expected to enhance EBITDA growth. These factors, combined with a housing market that is performing slightly better than expected, reinforce the Buy rating for Zillow Group Class C stock.
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.