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Zillow Group Inc. has reached a significant milestone as its stock hit a 52-week high of $88.63, with the company now commanding a market capitalization of $21.26 billion. According to InvestingPro data, analyst price targets range from $66 to $105, suggesting mixed views on the stock’s valuation. This marks a notable achievement for the company, reflecting a robust performance over the past year. The stock’s impressive climb has reached 39.78% over the past year, with revenue growth of 15.31% showcasing investor confidence and market optimism surrounding Zillow’s business strategies and growth prospects. InvestingPro subscribers can access 8 additional key insights about Zillow’s financial health and growth potential through the comprehensive Pro Research Report. As the real estate technology company continues to innovate and expand its offerings, this 52-week high underscores the positive sentiment in the market and the potential for further growth, though current valuations suggest the stock may be slightly overextended.
In other recent news, Zillow Group has reported several noteworthy developments. The company announced it will unwind capped call transactions, expecting to receive 3.1 million shares of its Class C stock and $38.2 million in cash, which will reduce the total number of its outstanding Class C shares. Bernstein has upgraded Zillow’s stock rating to Outperform, citing mid-teens revenue growth and new business segments as key factors. RBC Capital has maintained its Outperform rating, highlighting the company’s resilience in the housing market and its Enhanced market products. Additionally, Zillow has partnered with Berkshire Hathaway HomeServices to provide an AI-powered premium listing experience, expected to enhance the appeal of Showcase listings. Piper Sandler reiterated an Overweight rating on Zillow, noting a 44% year-over-year growth in Flex revenue, despite a deceleration in the last quarter. These updates reflect Zillow’s strategic initiatives and collaborations aimed at strengthening its market position.
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