ZG - Zillow Group: Strong Rental Growth May Offset Possible Slowdown In Residential
2024-05-03 16:39:52 ET
Summary
- Zillow Group's stock has declined almost -20% since my first coverage, confirming my sell rating at the time.
- Share performance has been volatile, reaching an all-time high in 2021 but declining since then as high interest rate environment continued to present headwinds.
- Strong rental performance may continue to accelerate growth. I upgrade Zillow Group to a buy rating with a 1-year price target of $45.
Founded in 2006, Zillow Group ( ZG ) is an online real estate marketplace based in the US. Aside from its core brand, Zillow, ZG also owns StreetEasy and Trulia, a former competitor....
Zillow Group: Strong Rental Growth May Offset Possible Slowdown In Residential