Cantor Fitzgerald raises Zillow Group (ZG) price target to $70

Cantor Fitzgerald analyst Deepak Mathivanan reiterated Zillow Group (NASDAQ: ZG) at Neutral and raised its price target to $70.00 (from $62.00).

The analyst commented, “ZG reported 4Q results with revenues and EBITDA above Street (Visible Alpha) estimates by 1% and 3%, respectively, once again outperforming prior guidance despite choppy RE market. The company's 1Q revenue and EBITDA guide, meanwhile, were 2% and 12% below street at the high-end. ZG expects FY25E revenues to grow low-to-mid teens y/y, predicated on L-MSD RE market growth."

Also, "The company is expecting some deleverage on variable costs, but fixed cost inflation should be modest in 2025. In terms of products, ZG has ambitious plans to expand coverage of EM in 2025, while also investing in mortgages and other segments. Overall, 4Q was a good quarter for ZG but the company's fundamentals in the core business remain highly correlated with the broader RE market in many segments.”

For an analyst ratings summary and ratings history on Zillow Group click here. For more ratings news on Zillow Group click here.

Shares of Zillow Group closed at $83.84 yesterday.

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