Reddit’s WallStreetBets is Buying these 5 Stocks for Post-Earnings Gains

4. Zillow Group, Inc. (NASDAQ: Z)

Number of Hedge Fund Holders: 82

Expected Earnings Date: August 5 (After Market Close)

Zillow Group, Inc. (NASDAQ: Z) is ranked fourth on our list of 10 stocks Reddit’s WallStreetBets is buying for post-earnings gains. The company operates an online platform related to real estate and is based in Washington. It is expected to post earnings results for the second quarter after the close of market on August 5. The stock is one of the most popular ones on Reddit forums these days, with chatter on the WallStreetBets platform in particular earning the firm a mention in the Bank of America hot Reddit list last month. 

On July 21, investment advisory Berenberg initiated coverage of Zillow Group, Inc. (NASDAQ: Z) stock with a Buy rating and a price target of $156, underlining that the online market for real estate firms was growing and the fundamentals of the industry remained strong. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm SRS Investment Management is a leading shareholder in Zillow Group, Inc. (NASDAQ: Z) with 7.3 million shares worth more than $946 million. 

In its Q1 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Zillow Group, Inc. (NASDAQ: Z) was one of them. Here is what the fund said:

“Zillow Group, Inc. operates leading U.S. real estate sites, a mortgage marketplace, and the Zillow Offers home-buying business. Shares fell during the quarter in concert with the broader rotation out of technology-based stocks despite the company’s continued inflection in mortgages revenue, strong profitability in its core business, and a positive real estate outlook as Zillow builds out its iBuying ecosystem. In our view, Zillow is a leader in the large online real estate advertising market with substantial upside from mortgages and Offers, and we remain investors.”