Shares of Zillow (NASDAQ:Z) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $0.21, which beat analysts’ consensus estimate of $0.03 per share.
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Sales decreased by 18.7% year-over-year, with revenue hitting $435 million. This beat analysts’ expectations of $414.96 million.
Traffic on Zillow apps was about the same as last year, coming in at 198 million average monthly unique users. Total visits during the fourth quarter fared worse, coming in at 2.2 billion total, down around 5% in year-over-year comparisons.
Overall, Wall Street has a consensus price target of $40.67 on Zillow, implying 14.36% downside risk, as indicated by the graphic above.