This Internet real estate marketplace has been attracting increasing institutional interest with current institutions adding almost 5 million shares to their existing holdings. The company is experiencing tremendous growth, and analysts are expecting that to continue.
Zillow (Z)
from New Technology Superstars
Zillow (Z), the largest residential real estate marketplace, added a number of new realtors to its Zillow Pro for Brokers platform this month, including RE/MAX Select Realty and Achieve Realty.
Also of note, Michael Messara, senior portfolio manager of hedge fund Caledonia, said Zillow is the firm’s biggest bet ever and that he expects it to reach an enterprise value of $50 billion, which would imply a price of $770 a share. That’s 6X what the company currently trades for and he is basing that valuation on the firm’s strong and defensible position, focus on mobile technology and its best in class management.
Obviously, he has a vested interest, and you can never place too much weight in comments like these, but it does speak to the potential for exponential growth ahead for Zillow.
Source: http://bigcharts.marketwatch.com/
Jon Markman, New Technology Superstars, published by Money and Markets, a Division of Weiss Research, Inc., www.moneyandmarkets.com/services/trading-services/new-technology-superstars, issues@e.moneyandmarkets.com; 1-800-291-8545, November 21, 2014