Zillow Group (Z, ZG) is expected to report a "small beat" in Q1 relative to the company's own guidance, Wedbush said in an earnings preview note Monday.
The analysts said they expect Q1 adjusted EBITDA of $142 million, above the company's guidance of $125 million to $140 million.
Q1 revenue is seen at $588 million, up 11% year-over-year and straddling Zillow's own outlook of $575 million to $590 million. Wedbush analysts also said they believe an increase in the dollar value of total existing home sales together with an improvement in purchase mortgage apps "may support our outlook for revenue growth above" the company's guidance.
Zillow is due to report earnings after market close on Wednesday.
Wedbush has an outperform rating on the stock with a $100 price target.
Price: 68.66, Change: -0.22, Percent Change: -0.32
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