ThinkEquity Says Buy the Dip in Zillow (Z) Shares; Shrugs at Rumor of Competitor's Possible IPO
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Price: $57.61 +4.84%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade Z Now!
Traders in Zillow (NYSE: Z) seem to be heeding a call by ThinkEquity's Ronald Josey Thursday morning. The stock just opened up more than 1.5 percent despite a modest move lower in the US's major indices.
Josey believes recent weakness in Zillow shares should be used as a buying opportunity. He believes investors have been selling the stock following news a competitor could be exploring a public offering. The stock is down more than 13 percent over the last three weeks.
The "buy-on-the-dip" recommendation also comes ahead of Zillow's first-quarter report next week on Wednesday. Josey said he is modeling for the company to beat the Street's current estimates of 3 cents per share on earnings and $21.5 million on sales.
ThinkEquity maintains a Buy rating and $40 price target on shares of Zillow. With the stock last trading at $33.89, Josey's price target implies possible price appreciation of about 18 percent.
To track all the market-moving calls on Zillow shares, visit our Analyst Ratings page.
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Josey believes recent weakness in Zillow shares should be used as a buying opportunity. He believes investors have been selling the stock following news a competitor could be exploring a public offering. The stock is down more than 13 percent over the last three weeks.
The "buy-on-the-dip" recommendation also comes ahead of Zillow's first-quarter report next week on Wednesday. Josey said he is modeling for the company to beat the Street's current estimates of 3 cents per share on earnings and $21.5 million on sales.
ThinkEquity maintains a Buy rating and $40 price target on shares of Zillow. With the stock last trading at $33.89, Josey's price target implies possible price appreciation of about 18 percent.
To track all the market-moving calls on Zillow shares, visit our Analyst Ratings page.
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