Zillow Group (ZG) shares ended the last trading session 5.2% higher at $32.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 15.8% loss over the past four weeks.
The company’s growing user base and visitors is the primary factor that helps it generate significant revenues. Zillow Group constantly adds new features to bolster experience for property managers and consumers. Rental Inforum is aimed at making property managers better understand the preferences of consumers. Management noted that the high visitor rate was backed by improvement in product lines, which increased its app downloads. The increase in visitors is a positive as it enhances the probability of generating leads for agent advertisers.
This online real estate marketplace is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +119.1%. Revenues are expected to be $414.39 million, down 89.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Zillow, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Zillow is part of the Zacks Internet – Services industry. Akamai Technologies (AKAM), another stock in the same industry, closed the last trading session 0.8% higher at $84.97. AKAM has returned -8% in the past month.
Akamai Technologies’ consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.26. Compared to the company’s year-ago EPS, this represents a change of -15.4%. Akamai Technologies currently boasts a Zacks Rank of #3 (Hold).
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