States file lawsuit against Zillow and Redfin for purported antitrust infringement in online rental housing market.
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
Lawsuit Against Zillow and Redfin: Attorneys general from five states have filed a lawsuit against Zillow and Redfin, alleging that a $100 million deal between the two companies aimed to eliminate competition in the online housing rental market, violating federal antitrust laws.
Impact on Renters and Market Competition: The lawsuit claims that the agreement could harm renters by reducing options and increasing costs, while the companies maintain that their partnership is beneficial for consumers and enhances access to rental listings.
Analyst Views on ZG
Wall Street analysts forecast ZG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ZG is 88.71 USD with a low forecast of 66.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
14 Buy
6 Hold
1 Sell
Moderate Buy
Current: 67.170
Low
66.00
Averages
88.71
High
105.00
Current: 67.170
Low
66.00
Averages
88.71
High
105.00
About ZG
Zillow Group, Inc. helps people find and get the home they want by connecting them with digital solutions, dedicated partners and agents, and buying, selling, financing, and renting experiences. The Company’s affiliates, subsidiaries, and brands include Zillow, Zillow Premier Agent, Zillow Home Loans, Zillow Rentals, Trulia, Out East, StreetEasy, HotPads, ShowingTime+, Spruce, and Follow Up Boss. It helps renters, buyers, sellers, and real estate professionals across all their residential real estate needs through its housing super app, which serves as an ecosystem of connected solutions for the tasks and services related to moving. It provides integrated transaction experience for movers through Zillow, its network of partners, its affiliated brands, and through a comprehensive suite of marketing software and technology solutions for the real estate industry, including ShowingTime+, Follow Up Boss and Spruce. It offers multifamily property managers a variety of advertising products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
