Zillow price target raised to $120 from $100 at Benchmark » 07:1909/2409/24/20
Benchmark analyst Daniel…
Benchmark analyst Daniel Kurnos raised the firm's price target on Zillow to $120 from $100 and keeps a Buy rating on the shares after the company announced "what appeared to be a controversial decision" to bring agents in-house for some strategic markets for its Zillow Offers portfolio. Given that this decision only relates to inventory already purchased by Zillow, he sees the fundamental Offers platform as largely unchanged and thinks this move was "clearly more well thought-out than perhaps prior platform adjustments," Kurnos tells investors. The move should only further enhance home unit sale economics, added Kurnos, who argues that Zillow is "effectively catching up to the peer group through this practice."
Zillow pivot could impact core advertising business, Stephens says » 14:2809/2309/23/20
Z, ZG, RDFN
Stephens analyst John…
Stephens analyst John Campbell maintained an Overweight rating on Zillow (Z, ZG) and put his $100 price target under review. Zillow announced, in a long anticipated pivot, that it will be rolling out its own salaried real estate agents to help transact homes within its Zillow Offers program, the analyst noted. Campbell believes this could cause a near-term issue with the traditional real estate industry, potentially impacting its core advertising business. Additionally, the move could impact competitor Redfin (RDFN), a company the analyst believes is "not likely... to like this development."
Datadog call volume above normal and directionally bullish » 11:0509/2309/23/20
Bullish option flow…
Bullish option flow detected in Datadog with 8,718 calls trading, 1.5x expected, and implied vol increasing almost 2 points to 57.41%. 9/25 weekly 100 calls and 9/25 weekly 95 calls are the most active options, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 0.09. Earnings are expected on November 12th.
Zillow price target raised to $125 from $110 at Needham » 10:3809/2309/23/20
Needham analyst Brad…
Needham analyst Brad Erickson raised the firm's price target on Zillow to a Street-high of $125 from $110 and keeps a Buy rating on the shares. After the company announced it will begin licensing employees who can broker home sales via its Zillow Offers business, Erickson said this accomplishes two critical things Zillow has been lacking: It allows direct access to MLS data for the first time and it could finally allow Zillow to better attach itself to seller transactions versus its historical presence.
Largest borrow rate increases among liquid names » 08:4509/2309/23/20
BTG, CRBP, DX, BLDP, BIGC, AMC, LMND, VBIV, VXRT
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: B2Gold (BTG) 2.18% +1.80, Corbus Pharmaceuticals (CRBP) 14.54% +0.77, Dynex Capital (DX) 1.31% +0.64, Ballard Power (BLDP) 4.00% +0.52, BigCommerce Holdings (BIGC) 15.82% +0.33, AMC Entertainment (AMC) 104.66% +0.29, Lemonade (LMND) 14.55% +0.28, VBI Vaccines (VBIV) 1.65% +0.27, Direxion Daily Bull (TECL) 2.99% +0.27, and Vaxart (VXRT) 18.60% +0.24.
Zillow Offers to expand services in 2021 » 08:0609/2309/23/20
Zillow Group announced…
Zillow Group announced plans to bring Zillow Offers customers a more simple, integrated transaction experience through added services, managed in house. Starting in January 2021, customers in Atlanta, Phoenix and Tucson who sell homes through Zillow Offers will work directly with trusted, licensed employees of Zillow Homes, a licensed brokerage entity. Zillow-owned homes in these markets will be listed for sale by licensed Zillow Homes employees. The company expects to expand these services to additional Zillow Offers markets later in 2021.
Republic Services downgraded to Neutral with $99 target at JPMorgan » 06:0409/2309/23/20
JPMorgan analyst Stephanie Yee downgraded Republic Services (RSG) to Neutral from Overweight with an unchanged price target of $99. The prior rating prior rating was based on the premise that Republic Services would weather COVID-19 shutdowns better given its smaller landfill network compared to Waste Management (WM), Yee tells investors in a research note.
Stamps.com participates in a conference call with Craig-Hallum » 04:5509/2309/23/20
Conference call with CFO…
Conference call with CFO Carberry will be held on September 23 hosted by Craig-Hallum.
Republic Services downgraded to Neutral from Overweight at JPMorgan » 04:4509/2309/23/20
JPMorgan analyst Stephanie Yee downgraded Republic Services to Neutral from Overweight with a $99 price target.
Illumina call volume above normal and directionally bullish » 11:4509/2209/22/20
Bullish option flow…
Bullish option flow detected in Illumina with 1,987 calls trading, 2x expected, and implied vol increasing almost 3 points to 51.06%. 9/25 weekly 275 calls and Jan-21 250 puts are the most active options, with total volume in those strikes near 350 contracts. The Put/Call Ratio is 0.58. Earnings are expected on October 22nd.