NEW YORK (TheStreet) -- Zillow (Z) shares were downgraded to "neutral" from "buy" by analysts at SunTrust Robinson Humphrey, while maintaining a $110 price target.
The firm made a valuation call based on the fact that the stock has surged past the $110 price target SunTrust set for fiscal 2014.
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"While we remain very bullish on the long term prospects for the company and the large total addressable markets it is addressing, we think the market has accounted for some of the opportunity, making the stock expensive in the short term," said analysts at the firm.
Zillow shares are down -1.8% to $115.82 in early trading on Thursday.
TheStreet Ratings team rates ZILLOW INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ZILLOW INC (Z) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share."