Zillow Group price target raised to $80 from $75 at DA Davidson

DA Davidson analyst Tom White raised the firm’s price target on Zillow Group (ZG) to $80 from $75 and keeps a Buy rating on the shares. The company’s “Showcase Listing”, or SL, offering continued to expand its share of available for-sale home listings during Q4 and also managed to grow its footprint of paying customers sequentially, the analyst tells investors in a research note. While early customer retention trends for SLs remain mixed, based on the momentum of overall SL penetration and the firm’s expectation of continued broader share gains for Zillow’s Residential + Mortgage segments relative to industry total transaction value growth, DA Davidson is boosting its FY25 EBITDA outlook to $626M from $598M, the firm added.