Zillow Group price target raised to $90 from $80 at DA Davidson

DA Davidson raised the firm’s price target on Zillow Group (ZG) to $90 from $80 and keeps a Buy rating on the shares. The company reported a broad-based revenue and EBITDA beat in Q4, though its Q1 outlook was a bit light, reflecting a soft start to the housing market this year amidst ongoing rate volatility and near historical bottom 3% current existing homes turnover, the analyst tells investors in a research note. The full-year commentary was constructive however, implying accelerating growth as the year progresses, driven by further expansion and seasoning of Zillow’s Enhanced Markets and ramping Zillow Showcase, the firm added.