Zillow (Z) Posts Narrower-than-Expected Q2 adj.-Loss of 1c/Share
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August 5, 2015 9:04 AM EDT
Deutsche Bank maintained a Hold rating on Zillow (NASDAQ: Z) but lowered its price target to $71.00 (from $96.00). The change follows Q2 results. Analyst Lloyd Walmsley said Zillow was "more uncertain than ever" and cut revenue and EBITDA estimates.
"We see the narrative on Zillows business changing for the negative, as subs and traffic growth slow and the company increasingly focuses on super-agents. Revenue tied to super agent teams is less of a simple share shift story (scales quickly) and more akin to the hard work... More
August 5, 2015 7:52 AM EDT
RBC Capital analyst Mark Mahaney reiterated a Sector Perform rating and lowered his price target on Zillow (NASDAQ: Z) to $92.00 (from $103.00) following Q2 results ahead of expectations, especially on the EBITDA line, tho much of the EBITDA beat was due to a push out of marketing spend.
The keys to the quarter, according to Mahaney: 1) Across The Board Deceleration Total revenue pro forma growth decelerated from 35% Y/Y in Q1 to 20% in Q2 (or ex-Market Leader, from 41% to... More
