Zillow Downgraded by Morgan Stanley to Underweight (Z)
Zillow (NYSE:Z) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Thursday, AnalystRatings.Net reports. They currently have a $70.00 price target on the stock, up from their previous price target of $65.00. Morgan Stanley’s price objective would suggest a potential downside of 30.35% from the company’s current price.
The analysts wrote, “We downgrade Zillow to Underweight, as we have concerns about TAM saturation and believe the stock is overvalued relative to its market opportunity.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Zillow (NYSE:Z) in a research note to investors on Thursday, August 8th. They now have a $79.00 price target on the stock. Separately, analysts at Telsey Advisory Group raised their price target on shares of Zillow (NYSE:Z) from $57.00 to $70.00 in a research note to investors on Wednesday, August 7th. They now have a “not rated” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Zillow (NYSE:Z) from $65.00 to $90.00 in a research note to investors on Wednesday, August 7th. They now have a “buy” rating on the stock.
One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Zillow currently has an average rating of “Hold” and a consensus price target of $72.72.
Zillow (NYSE:Z) traded down 1.39% on Thursday, hitting $99.108. 567,267 shares of the company’s stock traded hands. Zillow has a one year low of $23.00 and a one year high of $103.00. The stock has a 50-day moving average of $83.94 and a 200-day moving average of $61.84. The company’s market cap is $3.458 billion.
Zillow (NYSE:Z) last announced its earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.11) by $0.19. The company had revenue of $46.90 million for the quarter, compared to the consensus estimate of $44.42 million. During the same quarter last year, the company posted $0.04 earnings per share. Zillow’s revenue was up 68.7% compared to the same quarter last year. Analysts expect that Zillow will post $-0.04 EPS for the current fiscal year.
In other Zillow news, CRO Greg Schwartz sold 1,059 shares of the stock on the open market in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $85.42, for a total value of $90,459.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Zillow, Inc (NYSE:Z) is a real estate and home-related information marketplaces.
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