Zillow Group price target raised to $55 from $51 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Zillow Group to $55 from $51 and keeps a Buy rating on the shares. Zillow founder Rich Barton believes the right time to make a leadership change is from a position of strength, and thus Zillow is being placed in the capable hands of COO Jeremy Wacksman. The firm says it couldn’t agree more with the fundamental strength of Zillow, delivering its second straight quarter of double-digit growth despite elevated volatility in the economy and the housing market. Despite the change in leadership, Craig-Hallum anticipates more of the same at Zillow, which continues to execute on its pillars, outperforming the housing market and driving toward a doubling of market share.