$26 an Attractive Entry Point for Zillow (Z) - Goldman

November 29, 2012 8:54 AM EST
Get Alerts Z Hot Sheet
Price: $36.51 -2.82%

Rating Summary:
    8 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Zillow (NASDAQ: Z) stock declined after the company reported earnings in early November. With shares trading at $26, analysts at Goldman Sachs see an attractive entry point.

"We continue to heavily favor stocks connected to the businesses that benefit most from the growth in mobile usage," said analyst Heath P. Terry.

"Zillow has leveraged a focus on technology, particularly in mobile, to create a differentiated product with lower customer acquisition costs and high value for subscribing agents, that should drive significant growth from agent penetration, ARPU, and vertical and product expansion, particularly as the space consolidates," continued Terry.

Goldman Sachs has a Buy rating on Zillow (NASDAQ: Z) with a modified price target of $39.00 (from $44.00).

For an analyst ratings summary and ratings history on Zillow click here. For more ratings news on Zillow click here.

Shares of Zillow closed at $26.40 yesterday.

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