RBC Capital Reiterates Outperform on Zillow Group, Inc. (ZG) Following Earnings Report
- Wall Street drops as banks, health stocks weigh
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Trump, Brexit uncertainty hit stocks and dollar, gold jumps
- Pre-Open Stock Movers 01/17: (FWP) (CLSN) (GEVO) Higher; (ADHD) (CBK) (UEC) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
RBC Capital reiterated an Outperform rating and $42.00 price target on Zillow Group (NASDAQ: ZG) following the company's 3Q earnings report. Revenue of $225MM beat the Street's estimates by 2% with an upside in both Marketplace and Display Revenue. ZG maintained its Q4 EBITDA guide but tweaked down its Q4 Rev Guidance to $218-223MM (from $219-224MM) citing uncertainty around new selfserve ad product’s impact on its agent business.
Analyst Mark Mahaney commented, "ZG posted stronger than expected Q3 results while largely maintaining the Q4 outlook (likely some conservatism here). Organic Revenue Growth accelerated and Adjusted EBITDA margin reached 3-year high. Our estimates are modestly adjusted down, while our PT remains $42. Maintain Outperform."
Shares of Zillow Group closed at $32.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- UPDATE: JPMorgan Downgrades Navient Corporation (NAVI) to Neutral
- Extreme Networks (EXTR): Restructuring Charge Adds 10% to EPS, Raising PT - Needham
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings, Mark Mahaney
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!