U.S. Markets closed

Zillow Group Rises on Analyst's Upgrade to 'Buy'

Adam Smith

was up more than 5% on Wednesday following an upgrade by Guggenheim Securities. Shares of class A and C stock were trading around $38.51 on the Nasdaq following a bump to buy from neutral by Guggenheim analyst Jake Fuller. Citing the reasons for the upgrade in his note, Fuller wrote that Zillow's core advertising business has stabilized and its Offers services has surpassed expectations and is likely to top ad revenue in the fourth quarter and see more than a billion dollars in revenue in its first full year.