Fly News Breaks for February 28, 2020
Feb 28, 2020 | 06:17 EDT
KeyBanc analyst Edward Yruma initiated coverage of Zillow Group (Z) with a Sector Weight rating and no price target. The company should benefit from favorable near-term housing market dynamics, but internet buying has "significant business model complexity and its full cycle profitability remains unclear," Yruma tells investors in a research note. He believes profitability growth, not revenue growth, will be the driver of stock performance in the Marketplaces category.
News For Z;ZG From the Last 2 Days
Sep 22, 2021 | 14:27 EDT
U.S. existing home sales for August were 576,000, up 2.9%, and prices grew 14.9% year-over-year while inventory remains constrained, declining slightly versus July, Piper Sandler analyst Thomas Champion tells investors in a research note. The analyst says this was the strongest result for the month since 2006. Overall, the market looks strong, which is positive for Zillow Group (ZG) and Redfin (RDFN), says Champion. He keeps an Overweight rating on both stocks.