Benchmark Raises Price Target on Zillow (Z) Due to Robust Secular Growth
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Price: $42.95 -1.11%
Rating Summary:
16 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
16 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Benchmark is maintaining its Buy rating on shares of Zillow (NASDAQ: Z) and is lifting its price target from $35 to $40.
The company posted solid Q4 results as they came in above the Street's expectations. Z also offered strong Q1 guidance, which to exceed expectations. Display advertising rose 38 percent, helping drive the 169 percent revenue growth.
The firm highlights 53 homes were viewed per second on Zillow mobile in January 2012, up from 36 homes in December.
An analyst at Benchmark comments, "We continue to believe real estate is particularly suitable for in-the-field information. In addition, the PA subscription program is well suited for mobile monetization. As such, Zillow is well positioned and protected from the expected shift to mobile."
For Q1 and FY12, the firm forecasts EPS of $0.06 and $0.33.
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 $33.99 yesterday.
The company posted solid Q4 results as they came in above the Street's expectations. Z also offered strong Q1 guidance, which to exceed expectations. Display advertising rose 38 percent, helping drive the 169 percent revenue growth.
The firm highlights 53 homes were viewed per second on Zillow mobile in January 2012, up from 36 homes in December.
An analyst at Benchmark comments, "We continue to believe real estate is particularly suitable for in-the-field information. In addition, the PA subscription program is well suited for mobile monetization. As such, Zillow is well positioned and protected from the expected shift to mobile."
For Q1 and FY12, the firm forecasts EPS of $0.06 and $0.33.
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 $33.99 yesterday.
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