25 May 2016 06:37
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Don't have an account? Click here to register.Macquarie downgrades Zoopla as it predicts slump in revenue
Thu, 02nd Feb 2017 09:06
(ShareCast News) - Macquarie has downgraded Zoopla Property Group to 'neutral' from 'outperform' and raised its price target to 375p from 360p."We lower our recommendation to 'neutral' from 'outperform' based on the increase in share price to our target price, the absence of a more bullish Comparison Services trading and our expectations for growth in Comparison Services revenue to slow after the first quarter of fiscal year 2017."The group recently acquired Hometrack, an automated valuation model (AVM) which tracks residential property data, analysis and valuations to 400 partners, including the 15 of the top 20 UK mortgage brokers. The property company is paying £120m plus a further earn out of up to £25m over 10 years.The takeover is expected to be earnings accretive starting 2018. The broker believes that the deal will further build the group's property resources and add scale to its data services business and its business with mortgage lenders.Hometrack's superior valuation tool also provides cross-selling opportunities by offering accurate and comprehensive valuations to both homeowners and buyers, increasing the value of the company's portal to visitors.The company also provided a trading update saying UK Agency partners continue to grow and comparison services continues to enjoy solid switching volumes. The broker said it expected a more positive statement for Comparison Services given strong market data and results from peers."Zoopla's Comparison Services offers higher long-term growth due to a less penetrated market and supportive regulation," said the broker.The adjusted earnings per share (EPS) estimate for 2017 has been cut by 3% but the forecast for 2018 EPS has been raised by 3% for 2018.Zoopla's share price rose 0.28% to 377.07p at 1030 GMT on Thursday.
More News
18 May 2016 15:08
10 May 2016 15:38
Tuesday broker round-up
(ShareCast News) - Foxtons: Citigroup upgrades to neutral with a 140p target. RBS: HBSC retains hold with a 240p target. Croda: JP Morgan keeps at overweight with a 3314p target. Aberdeen Asset Management: Goldman Sachs reiterates neutral with a target of 294p. Bovis Homes: Canaccord reiterates b
Read more22 Apr 2016 06:57
Friday newspaper round-up: Obama, Estate agents, Saga
(ShareCast News) - Barack Obama will appeal to voters today to ensure that Britain continues its "outsize influence" by remaining inside a European Union that "enhances its global leadership". The US president flew to the UK last night to make what David Cameron hopes will be one of the referendum c
Read more21 Apr 2016 12:16
Thursday broker round-up
(ShareCast News) - Petrofac: Jefferies downgrades to hold with a 855p target. ARM Holdings: Goldman Sachs stays at buy with a 1400p target, Citigroup keeps at neutral with a target price of 1045p and Exane BNP Paribas reiterates outperform with a target of 1300p. Zoopla: Barclays downgrades to equa
Read more21 Apr 2016 11:46
Broker tips: Zoopla, Victrex, Sky
(ShareCast News) - Barclays downgraded Zoopla to 'equalweight' from 'overweight' but lifted the price target to 295p from 270p, saying the valuation on the core property services business is up with events. The bank said it still sees an attractive long-term story, but another near-term share price
Read more21 Apr 2016 10:37
Barclays downgrades Zoopla, says valuation up with events
(ShareCast News) - Barclays downgraded Zoopla to 'equalweight' from 'overweight' but lifted the price target to 295p from 270p, saying the valuation on the core property services business is up with events. The bank said it still sees an attractive long-term story, but another near-term share price
Read more20 Apr 2016 15:54
Wednesday broker round-up
(ShareCast News) - Zoopla: Exane BNP Paribas reiterates neutral with a target price of 270p and Canaccord upgrades to buy with a 330p target. Ashmore: Barclays stays at underweight with a 250p target, Societe Generale downgrades to hold with a target price of 295p and Exane BNP Paribas downgrades to
Read more19 Apr 2016 13:51
Tuesday broker round-up
(ShareCast News) - Telecom Plus: Berenberg downgrades to hold with a target price of 1000p and Finncap reiterates buy with a 1225p target. Greggs: Berenberg upgrades to hold with a target price of 1020p. Zoopla: Credit Suisse reiterates outperform with a target price of 340p. Plus500: Berenberg st
Read more19 Apr 2016 07:55
Zoopla to pay £75m for Property Software Group
(ShareCast News) - Zoopla Property Group was preparing to take another property services business under its wing on Tuesday, announcing the £75m acquisition of the Property Software Group (PSG). The FTSE 250 digital media and lead generation platform described PSG as the UK's market-leading provider
Read more