Zillow Pops on Upgrade – Baystreet.ca
Zillow (NASDAQ:Z) noted its shares gained 4% after Bank of America double upgraded the stock to buy, citing its improved growth outlook despite a challenging macroeconomic environment.
During December, Zillow stock fell 16.6% in December, according to data from S&P Global Market Intelligence . Although there wasn’t news specific to Zillow in December, it continues to take a beating from a sour economy, rising interest rates, and the resulting scenario of a real estate market that’s heading south.
Zillow has a strong edge in its dominant position as a leading online real estate platform. It offers solutions in four main categories: buying, selling, financing, and renting.
Zillow had a disastrous 2021 after it shut down its iBuying business in November of last year. Although that put an end to what was a money-losing business, it sank investor confidence and meant many months of restructuring. That was in addition to what was an emerging bear market and overall economic woes.
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source: https://news.oneseocompany.com/2023/01/09/zillow-pops-on-upgrade-baystreetca_2023010939004.html
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