We've seen it in the past and as housing continues to cover and management reassures the street that our advertisement revenue is still growing rapidly (which it is), then I think we could see some absolutely explosive moves to the upside. It appears that the negatives are small in comparison to all that this company's got going for it. We WILL see all time NEW highs in 2013 and most likely in the Spring and Summer when homes sales are at their most robust.
We saw it move 18 points DOWN after flat 4th quarter revenue projections were disclosed on the earnings call in early November. With the SEC investigation, the class action lawsuit for Securities issues and increasing competition Z, can go downwards to single figures in 2013 as well as upwards. Jim Cramers recent comment that anything less than stellar performance from Zillow with lead to continue downward movement of Z stock price as it fails to live up to its 'growth stock' rating.
Any company that treats consumers with contempt the way that Zillow does by imposing unwanted and inaccurate zestimates on private property and refusing all reasonable requests to correct erroneous valuations can never hope to be successful in the long term. What has Zillow got to gain by alienating consumers in this way?
I am a Realtor, and Z is one of my new core positions, just established at these levels. People I talk to don't put absolute faith in the accuracy of Zestimates, just like the disclaimers that Zillow publishes for the consumer. Most who are informed only use them as a barometer of market directional movement. I have called Zillow to make corrections where there are inaccuracies in their mapping or other. They have been cooperative in their customer service responses when I call. I have been an advertiser for them, and while I didn't continue, I will say that I know others who swear by their ads on Zillow. GLTA, especially us longs!
Get over it surbi, you are in the extreme minority with your bad experience. You come of like a screaming whining toddler who has thrown a temper tantrum at the mall. Get over it, you'll live. You actually DONT have to sell your house for the Zillow appraisal, in fact, you would be an idiot not to hire your own appraiser. The Zestimate is only meant to be "ballpark". Sometimes it messes up, but the VAST majority of time, it does not.
And 18 points is EXACTLY how high it will be when it takes out those previous highs. Class actions are meaningless and Cramers track record has been rather poor lately. Personally I think he #$%$ off some of the big boys and they fade his comments. All I can say is be careful with this one. It could easily take off and never look back until it's well into the triple digits ala NFLX before it's fall back down into the mid double digits.