Zillow Group's stock surged 5.01% during intraday trading on Thursday, showing significant upward momentum in the market session.
The price movement follows a positive analyst note from RBC Capital Markets, which maintained an "outperform" rating on Zillow with a $95 price target. The firm highlighted that Zillow appears favorably positioned ahead of its Q4 earnings release scheduled for February 10, despite investor skepticism related to the Compass injunction outcome.
According to the analysis, Zillow's Preferred Agents are becoming increasingly accretive with agent payments rising above prior market-based pricing levels. Additionally, Zillow Showcase is gaining traction, particularly with per-listing pricing working well for hard-to-sell homes, supporting the company's intermediate-term goals.
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