Needham & Company Starts Zillow Group (ZG) at Buy
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company initiates coverage on Zillow Group (NASDAQ: ZG) with a Buy rating and a price target of $40, citing the company's dominance and revenue and EBITDA growth opportunities.
Analyst Kerry Rice commented, "We expect real estate agents to spend more of their marketing budget on Zillow in the coming years given our belief that its portfolio of websites remains the go-to destination for consumers. While network effects and the scale of Zillow's marketplace create a virtuous cycle and competitive advantages, we believe the core revenue growth driver is agents' embracing Zillow to unlock significant returns on their marketing dollars. We believe Zillow’s core addressable market is significant and expanding opportunity with sizable adjacent markets, such as mortgages and rentals layering on additional growth opportunities. We expect margins to expand on solid revenue growth. We view Zillow’s competition as limited and its lead is extending."
Shares of Zillow Group closed at $33.18 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Upgrades Magnachip Semiconductor (MX) to Buy
- KLR Group Upgrades Sanchez Energy (SN) to Buy
- Wunderlich Securities Starts Flowers Foods (FLo) at Buy, Says Long-Term Growth Story Is Intact
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!