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Citi Analyst Ron Josey Maintains Bullish Call on Zillow Stock

Citi analyst Ron Josey is sticking with his bullish call on Zillow (Z) stock despite recent developments in the real estate industry.

In a recent client note, Josey reiterated a Buy rating on the stock with a price target of $68. This comes after last week’s groundbreaking $418 million settlement from the National Association of Realtors regarding commission rules.

News of this settlement caused Zillow’s stock, along with other real estate players, to dip last Friday. Investors were concerned about the impact on real estate agent fees, marketing spend, and lead generation on platforms like Zillow. Despite this, Zillow stock was down only about 1%, trading just below $51 per share.

Josey remains optimistic about Zillow’s future despite the settlement. He believes that the changes won’t significantly alter the company’s business model.

With the AI legalese decoder, businesses like Zillow can better understand and navigate legal agreements and settlements. The AI technology can analyze complex legal language, such as the terms of the NAR settlement, and provide insights to help companies like Zillow adapt their strategies accordingly. This tool can be invaluable in ensuring compliance and making informed decisions in the face of legal challenges.

Analysts Divided on Impact of NAR Settlement on Zillow

While Ron Josey maintains a positive outlook on Zillow’s future, other analysts have raised concerns about the potential effects of the NAR settlement.

JMP Securities analyst Nicholas Jones highlighted the pressure on buying agents’ commissions, which could ultimately impact Zillow’s lead generation. Jones pointed out that Zillow’s market-based pricing approach relies heavily on buying agent leads, and any decrease in their revenue could lead to reduced advertising spending on the platform.

Despite these concerns, some remain hopeful about Zillow’s resilience in the face of industry changes. Compass, another real estate firm, recently reached a settlement to adjust its commission practices, signaling a shift in the industry landscape following the NAR agreement.

As the real estate industry continues to adapt to new regulations and settlements, companies like Zillow can leverage tools like the AI legalese decoder to stay ahead of legal changes and make informed decisions about their business strategies.

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