Nov. 19, 2014, 9:40 AM
- Caledonia Funds' Michael Messara has made positive remarks about Zillow (Z +5.5%) at the Sohn Investment Conference, declaring the online real estate leader's shares could reach $770 (!).
- Both Zillow and Trulia (TRLA +5.1%) are getting a lift from the remarks. Each company has already posted big gains over the last few trading days.
Nov. 17, 2014, 1:47 PM
- For the second trading day in a row (previous), Zillow (Z +4.4%) and Trulia (TRLA +3.8%) are rallying.
- Zillow's Monday volume (3.55M shares) is already more than 2x a 3-month average of 1.47M. Trulia's volume (944K shares) is nearly 50% above a 3-month average of 634K.
- No major news regarding the companies has hit the wires. Zillow did recently announce it will shut down its Agentfolio unit (provides a communications platform for real estate agents and home-buyers) in March. "While there are hundreds of agents using the product daily, our customer base is unfortunately not large enough to continue supporting our loyal users," the company told clients in a message.
Nov. 14, 2014, 1:22 PM
- Off sharply from the levels they saw around the time of their July merger announcement, Zillow (Z +7.1%) and Trulia (TRLA +7.3%) are rallying strongly today even as the Nasdaq barely budges. Volume has thus far been moderate.
- Short-covering could be helping: Zillow and Trulia respectively had 30% and 21% of their floats shorted as of Oct. 31.
- Both companies sold off following Trulia's Oct. 29 Q3 report, and did so again following Zillow's Nov. 5 Q3 report.
Nov. 6, 2014, 9:14 AM
- Gainers: PLNR +74%. PESI +24%. SWIR +20%. MEET +13%. RVLT +11%. COT +11%. DATA +11%. ACAS +10%. NDLS +9%. KATE +8%. KATE +8%. WFM +9%. HZNP +6%. CECO +6%. DRYS +5%. TRUE +5%.
- Losers: AEZS -51%. SZYM -47%. SNMX -26%. GNW -24%. WWWW -22%. CSOD -19%. PHMD -17%. GERN -14%. MCP -12%. GNRC -11%. WAC -9%. QCOM -7%. Z -7%. PBR -5%.
Nov. 5, 2014, 5:51 PM
- Zillow (NASDAQ:Z) guides on its Q3 CC (webcast) for Q4 revenue of $89M-$90M, below a $91M consensus.
- Q3 real estate revenue +86% Y/Y to $65.6M; mortgages revenue +24% to $7.1M; display (ad) revenue +30% to $16M.
- Premier Agent net adds totaled 4,059, raising the total base to 60.877. Average revenue per advertiser rose to $349 from $264 a year ago.
- Excluding acquisition-related costs, total GAAP costs/expenses rose 56% Y/Y to $91.7M.
- As one would expect, all-stock merger partner Trulia (NYSE:TRLA) is following Zillow lower. Both companies also sold off following Trulia's Q3 report.
- Q3 results, PR
Nov. 5, 2014, 4:32 PM
Oct. 29, 2014, 6:11 PM
- Trulia's (NYSE:TRLA) Y/Y Marketplace revenue growth slowed to 78% in Q3 from 142% in Q2, and its Media revenue growth to 26% from 41%. Marketplace was 83% of Q3 revenue, and Media 17%.
- The company's monthly unique visitors rose 36% Y/Y in Q3 to 55M; Q2 growth was 48%. Mobile monthly uniques +89% to 29.9M; growth was nearly even with Q2's 92%.
- Subscribers grew by 3.9K Q/Q to 77.9K. ARPU was $204, down $2 Q/Q and up $8 Y/Y. New contributions to user-generated content rose 5% Y/Y to 1.2M.
- Excluding restructuring costs, GAAP opex rose 76% Y/Y to $89.3M. Cost of revenue totaled $12M, R&D spend $14.9M, sales/marketing $38.9M, G&A $11.6M, and acquisition costs $10.8M.
- Trulia isn't providing guidance ahead of its planned merger with Zillow (NASDAQ:Z). Zillow reports on Nov. 5.
- Q3 results, PR
Oct. 29, 2014, 5:44 PM
Oct. 29, 2014, 4:14 PM
Oct. 28, 2014, 6:38 PM
- Facebook beat Q3 estimates, but provided Q4 revenue guidance that was slightly below consensus at the midpoint.
- Twitter (NYSE:TWTR) -1.7% AH; shares fell 9.8% in regular trading due to yesterday's Q3 results and guidance.
- LinkedIn (NYSE:LNKD) -1.6%. Pandora (NYSE:P) -1.2%. YELP -1.6%. Zillow (NASDAQ:Z) -1%.
- Many of the same names sold off after Netflix and eBay's earnings two weeks ago.
Oct. 6, 2014, 5:01 PM
- Zillow (NASDAQ:Z) had 82.8M monthly unique users in September. That's up 42% Y/Y and down 4% M/M (hurt by seasonality and one less day).
- Y/Y growth rose from August's 35% clip, but was below July's 45% and June's 49%.
- Shares are at their lowest levels since May, two months before the Trulia merger was announced.
Sep. 30, 2014, 11:37 AM
- Zillow (Z -2.6%) and Trulia (TRLA -1.8%) are selling off following news rival Move is being sold to News Corp. for $950M.
- News Corp. promises to "use [its] media platforms and compelling content to turbo-charge traffic growth and create the most successful real estate website in the U.S." The media giant also plans to boost Move's "sales and marketing support."
- Move's sites (inc. Move.com) currently reach 35M people/month; Zillow claimed 86.3M monthly unique users in August, and Trulia claimed 54M as of June.
- Zillow and Trulia are respectively down 29% and 27% from their July highs, which were hit amid merger-related euphoria.
Sep. 22, 2014, 1:45 PM
- High-beta tech stocks are selling off hard as the Nasdaq registers a 1.3% decline. The selling is broad-based, with Internet, solar, and enterprise tech stocks all well-represented among the ranks of major decliners.
- Major Internet decliners: BIDU -4.7%. ANGI -7%. YELP -5.9%. AWAY -5.1%. CHGG -5.9%. GRUB -5.8%. P -5.2%. Z -4.6%. TRLA -4.8%. ATHM -7.9%. BITA -7%. DANG -5.9%. WB -5.3%.
- Solar: FSLR -4.5%. SCTY -7.5%. SPWR -4.5%. DQ -7.6%. JKS -5.5%. ASTI -6.3%. ENPH -5.5%. CSIQ -4.8%.
- Enterprise: WDAY -5.4%. GIMO -6.7%. VMEM -7.7%. IMPV -4.8%. MKTO -4.9%. SPRT -5.1%. CSOD -5.5%.
- Others: HIMX -4.6%. SIGM -5.6%. WATT -9.7%. CYNI -5.3%. ADNC -5.7%. PXLW -5%. SWIR -5.8%. MITK -6%. OCLR -6%.
Sep. 8, 2014, 5:35 PM
Sep. 8, 2014, 12:20 PM
- Though the title of Andrew Left's presentation tomorrow at the Value Investing Congress - "The Myth of Zulia" - has been known for over a week, it's as good of an excuse as any for today's downward slide in Zillow (Z -4.2%) and Trulia (TRLA -4.2%).
- Citron's original bearish report on Zillow was almost two years ago to the day. The stock's roughly a three-bagger since.
Sep. 5, 2014, 11:04 AM
- PAA Research reports Zillow (Z -2%) has made changes to its Featured Listings service for Premier Agent subs in an effort to boost growth.
- PAA, which has been bearish on Zillow for some time, thinks the changes could be a sign Zillow's ad inventory issues are growing as brokers try to exert more leverage.
- Merger partner Trulia (TRLA -1.6%) is also off. Zillow's display revenue rose 53% Y/Y in Q2 to $16.1M; Trulia's media revenue rose 41% to $10.9M.
- Previous: FTC wants more info from Zillow/Trulia
Z vs. ETF Alternatives
Zillow Group Incoperates the real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products to help people find vital information about homes and connect with local professionals.
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