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Z

Zillow

$53.60

0.39 (0.73%)

, ZG

Zillow

$53.77

0.36 (0.67%)

06:11
04/13/18
04/13
06:11
04/13/18
06:11

Zillow launches home-flipping program in Phoenix, Las Vegas

Zillow Group said yesterday that it will expand Zillow Instant Offers to Phoenix this month. With this expansion, Zillow plans to participate in the marketplace, buying and selling homes with Premier Agent partners in the Phoenix and Las Vegas markets. With Zillow Instant Offers, potential home sellers receive investor offers alongside a Premier Agent's analysis of the home's open market value within two business days of submitting basic information about their home. The process offers transparency, convenience and choice for sellers, and gives them certainty over their sale price and timing. Zillow began testing Instant Offers in May 2017 with Premier Agent partners in Las Vegas and Orlando, and will add Phoenix this month. The program gives real estate agents the opportunity to acquire new listings by connecting them with motivated sellers who have taken a direct action to sell their home. Across all testing, Zillow found the vast majority of sellers who requested an Instant Offer ended up selling their home with an agent, making Instant Offers an excellent source of seller leads for Premier Agents and brokerage partners. Zillow will also partner with three brokerages locally in Phoenix and Las Vegas: West USA, Berkshire Hathaway HomeServices Arizona & Nevada Properties, and Coldwell Banker Premier Realty. The partnerships will provide the brokerage companies with the ability to create new seller lead opportunities for their agents. Beginning this spring, home sellers in the Phoenix and Las Vegas real estate markets will be able to compare an agent's comparative market analysis to offers from Zillow or other investors. When Zillow buys a home, it will make necessary repairs and updates and list the home as quickly as possible. A local agent will represent Zillow in the purchase and sale of each home, enabling agents to earn commissions. Zillow has hired Arik Prawer to oversee the business operations surrounding Zillow's participation in the Instant Offers marketplace as Chief Business Development Officer.

Z

Zillow

$53.60

0.39 (0.73%)

ZG

Zillow

$53.77

0.36 (0.67%)

Z Zillow
$53.60

0.39 (0.73%)

02/06/18
02/06/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Redfin (RDFN) initiated with a Buy at Jefferies. The firm also initiated Zillow (Z, ZG) with a Hold. 2. Liberty Oilfield Services (LBRT) initiated with an Overweight at Piper Jaffray, an Overweight at Morgan Stanley, a Buy at Citi and Goldman Sachs, an Overweight at JPMorgan, an Outperform at Wells Fargo and an Outperform at Evercore ISI. 3. Industrial Logistics Property Trust (ILPT) initiated with a Buy at BofA/Merrill, an Outperform at RBC Capital and JMP Securities and a Neutral at UBS. 4. Angi Homeservices (ANGI) initiated with an Outperform at BMO Capital. 5. Jones Lang LaSalle (JLL), Newmark (NMRK) and CBRE Group (CBG) initiated with an Outperform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/09/18
ADAM
02/09/18
NO CHANGE
Target $54
ADAM
Buy
Zillow still in early stages of growth, says Canaccord
Canaccord analyst Michael Graham said Zillow is still in the early stages of growing into a much larger company as it grows it portfolio of brands, renews focus on following consumers down the funnel, and aligns revenue more closely with its partners. Graham reiterated his Buy rating and raised his price target to $54 from $53 on Zillow shares.
03/13/18
MSCO
03/13/18
NO CHANGE
Target $55
MSCO
Overweight
Zillow price target raised to $55 on rental opportunity at Morgan Stanley
Morgan Stanley analyst Jonathan Lanterman said he sees the rental opportunity as a $2.5B addressable market and he believes Zillow has an opportunity to move further down the spectrum to better monetize its opportunity in that space. By 2025, he thinks Zillow can grow Rentals to over $650M in revenues, which he notes would be nearly as big as Premier Agent is today. Lanterman raised his price target on Zillow to $55 from $50 and keeps an Overweight rating on the shares.
03/15/18
KEYB
03/15/18
NO CHANGE
Target $65
KEYB
Overweight
Zillow price target raised to $65 from $54 at KeyBanc
KeyBanc analyst Brad Erickson raised his price target for Zillow to $65 from $54 as he believes multiple expansion can continue as investors better appreciate the new Zillow narrative. The analyst reiterates an Overweight rating on the shares.
ZG Zillow
$53.77

0.36 (0.67%)

04/04/18
DADA
04/04/18
INITIATION
Target $60
DADA
Neutral
Zillow initiated with a Neutral at DA Davidson
DA Davidson analyst Tom White initiated Zillow with a Neutral rating and a price target of $60. White notes that while Zillow has many 2018 tailwinds, such as strong audience engagement, robust product development pipeline, and the emerging Rentals/Mortgages/New Construction marketplaces, these positives are priced into the stock, which has rallied about 65% over the past 12 months. The analyst adds that he is not prepared to assume the total addressable market growth for Zillow required to assign the stock a Buy rating.

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