Zillow note offering needed for Homes - analyst

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

Raymond James says Zillow's (Z -1.2%)(ZG -1%) combined $1B convertible note offering "illustrates that Homes expansion requires significant capital to fund growth."

Analyst Justin Patterson: We expect Zillow to continue accessing capital markets to fund growth as it expands Homes to more markets."

Raymond James maintains a Market Perform rating on Zillow. The company has an Outperform average Sell Side rating.

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