#7 - Zillow Group (NASDAQ:Z)
Zillow Group Inc. (NASDAQ: Z) is another cyclical housing stock that has been a poor investment in the past two years. And unlike the previously mentioned RH, if you bought this stock five years ago and still hold it today, you’re sitting on a slight loss.
But many investors may not realize that Zillow has continued to grow revenue year over year in the past 12 months. The issue, for now, is on the bottom line. The company flipped from positive earnings to negative earnings in 2022 and has yet to recover.
However, analysts believe the company, which runs a digitalized real estate brokerage platform, will turn its earnings positive in the next 12 months. If that happens, it should justify the consensus price target of over $57 per share for ZW stock, which would be a 43% upside for investors.
About Zillow Group
Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.
Read More - Current Price
- $76.31
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $70.33 (7.8% Downside)
It's easy for homeowners of a certain age to remark that mortgage rates above 10% weren't unusual when they bought their first home. At the same time, an entire generation has since been conditioned to believe that interest rates below 5% and even around 3% are the norm.
As with many things, the truth is somewhere in between. And that's just about where mortgage rates are today, in the low to mid 7% range. However, if you're an investor, it's fair to ask if that number is closer to the floor or the ceiling. If it's the latter, then it's a good time to look at housing stocks that analysts believe can move much higher.
This special report shows you that, even if you don't want to invest in homebuilder stocks, there are different ways to invest in housing stocks. And with MarketBeat, you can add multiple stocks to a watchlist, so you'll never miss a timely update on a stock you're watching.
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