Benchmark increased its price target to $190 and increased its estimates as the company is realizing higher revenue per user.
Barclays increased its price target to $150 from $115. The firm cited the strong quarter of audience and revenue growth and believes the company has ample opportunity to monetize higher-spending agents and capture market share of more than $6 billion real estate agent marketing spend.
The stock was down 4.69% to $134.45 in pre-market trading on Wednesday.
Separately, TheStreet Ratings team rates ZILLOW INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ZILLOW INC (Z) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."