New Hire to Move Zillow (Z) Ahead, Barclays Says

March 6, 2014 4:37 PM EST
Get Alerts Z Hot Sheet
Price: $40.96 -5.29%

Rating Summary:
    13 Buy, 11 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 15 | New: 18
Trade Now! 
Join SI Premium – FREE
Barclays analyst Christopher Merwin is positive on Zillow's (NASDAQ: Z) hiring of Errol Samuelson, the former Chief Strategy Officer of Move, Inc and President of, as the Chief Industry Development Officer. The firm maintained an Overweight rating price target of $115 on the stock.

Merwin commented, "We believe the position was created by Zillow to improve relations with the industry and enhance the data quality on its site through more direct MLS partnerships. By improving the accuracy of its data, we believe Zillow will eventually be able to further consolidate audience market share—and ultimately real estate agent marketing budgets—as the need for consumers to find the highest quality data on competing MLS sites diminishes in time."

The analyst said agents could eventually be more inclined to join a platform that not only has the most eyeballs of any online real estate site, but also a data set of listings whose accuracy is improving steadily and could eventually be comparable to that of the MLS sites longer-term.

"While Zillow has employed an industry liaison in the past with limited success, we believe the new Chief Industry Development Offer has an impressive background of industry credentials that should make it far easier to build bridges with the real estate agent community", he added.

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 $83.20 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Management Changes

Related Entities