Zillow tops $140 after JMP PT hike; Trulia, Move also up

|About: Zillow Group, Inc. (Z)|By:, SA News Editor

After talking with CEO Spencer Rascoff, JMP thinks Zillow's (Z +6.1%) consumer and agent share gains are accelerating. The firm also thinks Premier Agent ARPU and EBITDA margin increases, and the expansion of rentals business, could act as catalysts.

Last week, Canaccord cited Premier Agent's growth potential as a reason (among others) for upping its Zillow target.

JMP's PT has been hiked by $36 to $150. Zillow is now up 71% YTD, and ~7x from its $20 2011 IPO price.

Trulia (TRLA +4.1%) and Move (MOVE +3.8%) are following Zillow higher on a good day for tech. Trulia announced today it's launching a smartwatch app for Google's Android Wear platform. The app will show home alert notifications from Trulia's Android phone app, and allow users to swipe through photos and property details.