Bank of America has revised its outlook for Zillow Group (Z, Financial), reducing the price target from $84 to $72 while maintaining a Neutral rating on the stock. This adjustment comes as Zillow prepares to release its upcoming earnings report on May 7.
Despite a slight increase in Q1 estimates due to better-than-anticipated real estate transaction volumes, the firm remains cautious. Bank of America cites ongoing macroeconomic uncertainties as a potential cause for reduced demand in the latter half of the year. Additionally, the firm's long-term revenue projections from 2025 to 2027 continue to lag behind broader market expectations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 21 analysts, the average target price for Zillow Group Inc (Z, Financial) is $88.62 with a high estimate of $110.00 and a low estimate of $70.00. The average target implies an upside of 41.63% from the current price of $62.57. More detailed estimate data can be found on the Zillow Group Inc (Z) Forecast page.
Based on the consensus recommendation from 24 brokerage firms, Zillow Group Inc's (Z, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Zillow Group Inc (Z, Financial) in one year is $64.05, suggesting a upside of 2.37% from the current price of $62.57. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Zillow Group Inc (Z) Summary page.
