Last week Friday saw Zillow stock jump after the company authorized a share buyback after it updated its investors on the closure of the home buying program.
Zillow’s board authorized a share repurchase of up to $750 million for both its Class A and Class C shares.
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According to Zillow’s CEO, the share repurchase program would reduce the cash balance that had been built up to support eh Zillow Offer during the home buying program.
Also, the company has released its Q4 earnings guidelines where the company expects its revenue to go up to about $2.9 billion.
Although the closure of the Zillow Offers program sent Zillow shares falling, analysts expect the stock price to bounce back once the company balances its balance sheet especially since the earning guideline is positive.
To help stock investors interested in investing in Zillow stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Zillow stock?
Zillow stock is the stock of Zillow Group, Inc., and trades on the NASDAQ stock exchange under the symbol NASDAQ: ZG.
Zillow Group, Inc., which is simply referred to as just Zillow, is an American online real estate marketplace company.
The company was founded in 2006.
Zillow also has a media company that generates revenue through selling advertising on the company’s website. It also had partnerships with different companies that use its real estate search engine.
Should I buy the Zillow stock today?
If you are looking to invest in a stock dip that has high prospects of bouncing back, then Zillow stock is a good choice.
Zillow stock price prediction
The current Zillow market dip is viewed by many analysts to be short-lived. The stock is expected to get back above $58 within the course of this week.
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