- 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.