Stock Track | Zillow Soars 5.35% in Pre-market on Strong Q3 Results, Upbeat Q4 Guidance, and Analyst Upgrade

Stock Track
Oct 31

Zillow Group Inc. (Z) shares surged 5.35% in pre-market trading on Friday, as the real estate technology company reported better-than-expected third-quarter results and provided an optimistic outlook for the fourth quarter. The stock's upward movement was further supported by a target price increase from a major Wall Street firm.

In its Q3 earnings report, Zillow posted a profit of 4 cents per share, surpassing analysts' estimates of 2 cents per share. The company's revenue for the quarter came in at $676 million, exceeding expectations of $671 million. Looking ahead, Zillow provided a robust fourth-quarter revenue forecast ranging from $645 million to $655 million, surpassing the consensus estimate of $644 million.

Adding to the positive sentiment, JP Morgan raised its target price for Zillow from $94 to $95, signaling confidence in the company's future performance. This analyst upgrade, combined with the strong financial results and upbeat guidance, appears to be driving investor enthusiasm for Zillow stock in the pre-market session.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10