Canaccord Genuity Maintains a 'Buy' on Zillow (Z); Steady Progress with Potential New Revenue Streams
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Price: $36.19 +1.32%
Rating Summary:
17 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Zillow (NASDAQ: Z) price target of $42.00.
Analyst, Michael Graham, said, "After meeting with management, we believe progress at Zillow has been steady since the company reported strong Q4 results on Feb 15. We believe that over the course of 2012 important new revenue streams may become evident, driving continued operating momentum."
"Unique User growth remained strong in February. We currently forecast UU growth to slow from 85% in 2011 to 68% in 2012, but note that rapid growth of mobile app usage could provide upside." (raises FY14 from $1.24 to $1.32)
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 $30.60 yesterday.
Analyst, Michael Graham, said, "After meeting with management, we believe progress at Zillow has been steady since the company reported strong Q4 results on Feb 15. We believe that over the course of 2012 important new revenue streams may become evident, driving continued operating momentum."
"Unique User growth remained strong in February. We currently forecast UU growth to slow from 85% in 2011 to 68% in 2012, but note that rapid growth of mobile app usage could provide upside." (raises FY14 from $1.24 to $1.32)
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 $30.60 yesterday.
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