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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.

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(ShareCast News) - Zoopla was vying to remain front and centre of the property technology - 'proptech' - sector on Tuesday, announcing the investment of £1m into four startup firms, along with long-term partnerships with the businesses. The FTSE 250 real estate platform said the partnerships include

16 Feb 2016 07:50

Zoopla Invests In Four UK Property Industry Start-Ups

5 Feb 2016 15:07

Friday broker round-up

(ShareCast News) - Enterprise Inns: Barclays downgrades to underweight with a target of 80p. Thomas Cook: HSBC reiterates hold with a target price of 100p and JP Morgan keeps at overweight with a 170p target. Victrex: Deutsche Bank keeps at hold, 2000p target, UBS maintains neutral with a target

1 Feb 2016 07:52

Andy Botha to move to Zoopla as CFO

(ShareCast News) - Zoopla Property Group has appointed Andy Botha as chief financial officer. It comes after the FTSE 250 company announced in late January that current CFO Stephen Morana intended to leave. Botha joins the company on April 18, coming from notonthehighstreet.com where he has been Ch

1 Feb 2016 07:29

Zoopla Property Hires Notonthehighstreet.com's Botha As Finance Chief

21 Jan 2016 08:56

Morana to step down as Zoopla CFO

(ShareCast News) - Zoopla Property Group has announced chief financial officer Stephen Morana intends to leave the FTSE 250 company. In a statement on Thursday, the company said a succession plan is "well advanced" and it will announce his replacement in due course. He will continue in the role unt

21 Jan 2016 07:50

Zoopla Property Chief Financial Officer Stephen Morana To Step Down

8 Jan 2016 15:11

FTSE 250 movers: Zoopla helps keep market marginally in the black

(ShareCast News) - The FTSE 250 remained in the black by mid-afternoon, but only just with the market up 0.27 points (0.00%) to 16,792.49. Zoopla Property Group surged nearly 7% after Berenberg issued an analysis of the media sector and reiterated its 'buy' rating for the property classifieds websit

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Zoopla Profit And Revenue Grow, Confident On Increasing Membership

2 Dec 2015 07:07

Zoopla Property zigzags after solid final results

(ShareCast News) - Zoopla Property Group said it was continuing to fight back against increasing competition for its website, after losing more than a fifth of its estate agency partners to new rival OnTheMarket.com during the year. Revenue was confirmed at £107.6m in the year to 30 September were 3

30 Nov 2015 14:19

FTSE 250 movers: Telecom Plus follows market trend, Drax falls on warning from chief executive

(ShareCast News) - The FTSE 250 started the week on a high, rising to 17,367.86 points by mid-afternoon Monday, up 102.76 points (0.60%). Telecom Plus followed the lead of the market overall, with shares rising over 5% on the day. Last week the company announced that statutory pre-tax profit for the

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