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Strength Seen in Zillow (ZG): Can Its 10.8% Jump Turn into More Strength?
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Zillow Group (ZG - Free Report) shares soared 10.8% in the last trading session to close at $51.62. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.8% gain over the past four weeks.
Zillow Group is likely to benefit from accretive acquisitions. The acquisition of Trulia has strengthened its competitive position versus MOVE, which was acquired by News Corp. The acquisition was also a strategic fit as both the companies offer mobile and web solutions that provide important information about homes to users. Further, with Trulia in its portfolio, Zillow Group’s scale of business has increased manifold with new listings and expanded reach, which in turn will offer significant long-term benefits.
The buyout of ShowingTime is also likely to augment the long-term revenues of the company. ShowingTime is an online scheduling platform for virtual home tours. Virtual home tours have been gaining significant traction amid the pandemic. The acquisition will help Zillow Group boost its online home touring capabilities.
This online real estate marketplace is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of -61.7%. Revenues are expected to be $473.04 million, down 53.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Zillow, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZG going forward to see if this recent jump can turn into more strength down the road.
Zillow is a member of the Zacks Internet - Services industry. One other stock in the same industry, LiveVox Holdings, Inc. , finished the last trading session 2.6% lower at $2.63. LVOX has returned -2.9% over the past month.
For LiveVox Holdings, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.02. This represents a change of +83.3% from what the company reported a year ago. LiveVox Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Zillow (ZG): Can Its 10.8% Jump Turn into More Strength?
Zillow Group (ZG - Free Report) shares soared 10.8% in the last trading session to close at $51.62. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.8% gain over the past four weeks.
Zillow Group is likely to benefit from accretive acquisitions. The acquisition of Trulia has strengthened its competitive position versus MOVE, which was acquired by News Corp. The acquisition was also a strategic fit as both the companies offer mobile and web solutions that provide important information about homes to users. Further, with Trulia in its portfolio, Zillow Group’s scale of business has increased manifold with new listings and expanded reach, which in turn will offer significant long-term benefits.
The buyout of ShowingTime is also likely to augment the long-term revenues of the company. ShowingTime is an online scheduling platform for virtual home tours. Virtual home tours have been gaining significant traction amid the pandemic. The acquisition will help Zillow Group boost its online home touring capabilities.
This online real estate marketplace is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of -61.7%. Revenues are expected to be $473.04 million, down 53.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Zillow, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zillow is a member of the Zacks Internet - Services industry. One other stock in the same industry, LiveVox Holdings, Inc. , finished the last trading session 2.6% lower at $2.63. LVOX has returned -2.9% over the past month.
For LiveVox Holdings, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.02. This represents a change of +83.3% from what the company reported a year ago. LiveVox Holdings, Inc. currently has a Zacks Rank of #3 (Hold).