Stock Track | Zillow Plunges 5.27% Post-Market After Q4 Results and Wells Fargo Target Price Cut
Stock Track
Feb 11
Zillow Group's stock plummeted 5.27% in post-market trading on Tuesday, following the release of its fourth-quarter financial results and a negative analyst action.
The online real estate marketplace reported Q4 revenue of $654 million, net income of $3 million, and adjusted EBITDA of $149 million. While earnings per share of $0.39 met analyst estimates and sales exceeded expectations, Wells Fargo cut its price target on the stock to $61 from $73, maintaining an Equal-Weight rating.
The combination of the earnings release and the reduced target price likely drove the after-hours sell-off.
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