Opendoor Sells Thousands of Homes to Avoid Zillow’s Fate

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Zillow Group Intrinsic Stock Value – The company operates in the United States, Canada, and Australia. Opendoor has recently sold thousands of homes in order to avoid a similar fate as Zillow ($NASDAQ:ZG). Zillow has been struggling as of late, and Opendoor does not want to follow in its footsteps. Opendoor is a much newer company, and it is hoping that by selling these homes, it can avoid the same fate as Zillow. The homes that Opendoor has sold are not the only properties that the company owns.

However, by selling some of its properties, Opendoor is hoping to stay afloat and avoid the same fate as Zillow. Only time will tell if this plan will work.

Stock Price

On Wednesday, ZILLOW GROUP stock opened at $30.9 and closed at $29.4, down by 4.9% from previous closing price of 31.0. This was in response to media reports that Opendoor, a startup that sells and buys homes, had sold thousands of homes to avoid Zillow’s fate. Zillow has been struggling lately, and this news has only increased the pressure on the company.

Opendoor’s success in selling homes highlights the challenges that Zillow faces. The company needs to find a way to adapt and compete in a rapidly changing market.

VI Analysis – Zillow Group Intrinsic Stock Value

The company’s fundamentals reflect its long term potential and below analysis on Zillow Group are made simple by VI app. The fair value of Zillow Group share is around $179.7, calculated by VI Line. Now ZILLOW GROUP stock is traded at $29.4, undervalued by 84%.

VI Peers

Founded in 2006, Zillow Group Inc operates the largest real estate and home-related marketplaces in the United States. The company’s mission is to empower consumers with information and tools to make better decisions about homes, real estate, and mortgages. Zillow Group Inc is a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol Z. BCW Group Holding Inc, Baltic Classifieds Group PLC, and Hemnet Group AB are all leading competitors of Zillow Group Inc in the online real estate database market.

– BCW Group Holding Inc ($LSE:BCG)

Baltic Classifieds Group PLC is a classified ads company that operates in the Baltics, Russia, and other countries in Eastern Europe. It has a market cap of 698.23M as of 2022 and a return on equity of 1.31%. The company was founded in 2006 and is headquartered in Riga, Latvia.

– Baltic Classifieds Group PLC ($OTCPK:HMNTY)

Hemnet Group AB is a Swedish real estate company. The company operates in the online real estate market in Sweden. It offers a platform for buying and selling homes and apartments. The company also offers a range of other services, such as home financing, home insurance, and home moving services. Hemnet Group AB was founded in 2002 and is headquartered in Stockholm, Sweden.

Summary

Zillow Group is a real estate technology company that operates a portfolio of online real estate brands. The company’s mission is to make it easier for people to buy, sell, and rent homes. Zillow Group’s brands include Zillow, Trulia, StreetEasy, and HotPads.

The company’s website and mobile apps offer users access to data and information about homes and apartments for sale and rent. Investors interested in buying shares of Zillow Group can do so through a broker or by purchasing shares directly from the company.