Why Zillow Group Soared 33% in May
Shares of Zillow Group (NASDAQ: Z)(NASDAQ: ZG) soared 33.1% in May, according to data from S&P Global Market Intelligence.
That move sent the stock from $44 per share to $58 per share during the month. This comes on the heels of Zillow's 28% surge in April.
On May 7, Zillow Group reported first-quarter results that were better than expectations. The company's core Premier Agent business accelerated its revenue growth to 11% year over year, up from 6% in the fourth quarter. Impressively, this included a 4.6% headwind from delayed revenue recognition related to the company's testing of its Flex pricing business model in certain markets.
Source Fool.com
