Online Real Estate Stock Pulls Back Ahead of Quarterly Results

Zillow stock has more than quintupled since March 2020

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Zillow Group, Inc. (NASDAQ:Z) operates one of the top real estate websites in the United States, as well various other real estate related brands. The company's platform offers buying, selling, renting, and financing services for residential real estate. It also provides marketing software and advertising services. Zillow's portfolio of brands include Zillow, Zillow Offers, Zillow Home Loans, Trulia, StreetEasy, HotPads, Naked Apartments, and Out East.

Last week, Zillow announced that its fourth-quarter and full-year 2020 financial results will be released after the market closes on Wednesday, Feb. 10. Zillow will host a conference call and webcast to discuss its results the same day.

Zillow has seemingly found its form over this past year. Z beat Wall Street's earnings expectations on all four of its most recent quarters. For the fourth quarter of 2019, Zillow beat expectations by a margin of $0.04 and reported an earnings per share (EPS) of -$0.26. For the first quarter of 2020, Zillow reported an increased EPS to -$0.25 and beat analysts' earnings expectations by a margin of $0.13. Z reported another increase in earning for the second quarter of 2020. Zillow reported an EPS of -$0.17 for the second quarter, beating expectations by $0.31. For the third quarter of 2020, Z reported a huge increase in earnings. Zillow reported earnings of $0.37 per share, marking a switch to profitability and an earnings beat of $0.25.

As a result of the company’s positive earnings performance, Zillow’s stock price surged over the past year. At the moment, Z is up an incredible 550% since its 52-week low of $20.04. Zillow stock has seen a sharp rise on the charts year-over-year. However, this past week, Zillow stock took a break from its run higher, now trading near the $130 mark.

Overall, Zillow is still an extremely exciting growth play. The biggest issue for the company is its massive valuation. Last year we saw Zillow reach a market cap of $30.9 billion. However, there may still be some upside left in Zillow stock. As we await the company’s 2020 full-year financial results to be reported, its previous year’s results showcase a double-up in revenue. Zillow’s rapid growth, coupled with its strong foothold as the top residential real estate website in the U.S., makes the company a decent candidate for long-term stock growth. Ideally, investors will want to keep an eye out for any major dips in Z stock for optimal pricing at entry.

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