Bernstein Raises Zillow's Rating and Price Target, Stock Price Rises

Summary

Zillow Group shares are trading higher after Bernstein upgraded the stock from Market Perform to Outperform and raised its price target from $75 to $105.benzinga_article

Impact Analysis

So basically, Bernstein’s upgrade of Zillow from Market Perform to Outperform, with a price target jump from $75 to $105, is a strong bullish signal. This move comes despite Zillow’s recent earnings miss, where EPS fell short of expectations, but revenue still grew by 14.5% year-over-year.benzinga_article+ 2 The timing is interesting, as it aligns with a broader positive sentiment in real estate stocks, likely fueled by anticipated Federal Reserve rate cuts.Market Beat The market seems to be reacting positively, with Zillow’s stock trading higher, reflecting confidence in its growth potential, especially in new segments like Rentals and Showcase.Tip Ranks However, it’s worth noting that other analysts have mixed views, with some maintaining a ‘Hold’ rating.Market Beat The trade here might be to ride the momentum but keep an eye on execution risks, especially given the mixed analyst sentiment and recent insider selling.Market Beat