Wedbush lowered the firm’s price target on Zillow (Z) to $90 from $100 and keeps an Outperform rating on the shares. The firm says that as it expected, Q1 AEBITDA and sales exceeded the Refinitiv consensus estimates. Zillow reiterated the FY25 guidance but offered up Q2 guidance that was below Wedbush’s forecast and consensus. The firm believes a portion of this miss is related to $25M in lead costs related to the Redfin (RDFN) apartment deal that went live earlier this month. The firm also anticipates the mortgage rate volatility in April may have played a role as Zillow had little positive to say about current real estate conditions.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on Z:
- Zillow Group price target raised to $82 from $80 at Piper Sandler
- Zillow price target lowered to $79 from $93 at JPMorgan
- Zillow Group price target lowered to $60 from $64 at Barclays
- Zillow Group Class A: Hold Rating Amid Mixed Performance and Macroeconomic Challenges
- Zillow Group: Hold Rating Amid Mixed Segment Performance and Macroeconomic Challenges