Skip to main content

Market Overview

JMP Securities Reiterates On Zillow Inc

Share:

JMP Securities reiterated its Outperform rating and $155 price target on Zillow Inc (NASDAQ: Z) Wednesday.

Analysts led by Ronald V. Josey issued their report following the announced $950 million acquisition of Move, Inc. by News Corp and REA Group Ltd.

As a result of the Move acquisition, shares of Zillow fell approximately 6 percent. Josey claimed that while the Move deal will mean increased competition for Zillow, the “sell-off in Zillow shares [was] overdone and we are buyers on weakness.”

Zillow’s pending acquisition of Trulia will also mean 110 million visitors with three times the size of monthly traffic compared to Move, according to Josey.

JMP’s price target of $155 is justified by “the large opportunity within online real estate, the potential for sustainable growth across Zillow’s businesses, and strong management.”

Zillow Inc recently traded at $111.80, down 3.6 percent.

Latest Ratings for Z

DateFirmActionFromTo
Feb 2021SusquehannaMaintainsNeutral
Feb 2021Morgan StanleyMaintainsEqual-Weight
Feb 2021NeedhamMaintainsBuy

View More Analyst Ratings for Z
View the Latest Analyst Ratings

 

Related Articles (Z)

View Comments and Join the Discussion!

Posted-In: JMP Securities Ronald V. JoseyAnalyst Color Price Target Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
GDWolfe ResearchDowngrades
QRTEAB of A SecuritiesInitiates Coverage On
ABB of A SecuritiesDowngrades42.0
VCTRB of A SecuritiesUpgrades32.0
BSIGB of A SecuritiesUpgrades27.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com