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(Bloomberg) — Zillow Group Inc. benefited from a rapid recovery in housing demand in the second quarter as house-hunters used virtual tours to seek larger living spaces during the pandemic.Zillow reported second-quarter revenue of $768 million, beating an average analyst estimate of $618 million.Key InsightsZillow offered real estate agents discounts on marketing services to help customers ride out the pandemic. The company’s core business generated $192 million, down 17% from the a year earlier.With Americans stuck at home, Zillow’s mobile app and websites saw a 12% boost in monthly users during the quarter. That came as low mortgage rates and demand for bigger living spaces helped turn housing into a bright spot for the U.S. economy. Existing homes sales surged in June.Due to the pandemic, Zillow acquired just 86 homes through its Homes segment, which functions like a Big Data-driven home flipper. The company sold 1,437 homes, generating $454 million in revenue, though the segment still loses money.The company is benefiting from consumers’ growing willingness to shop for homes online, Chief Executive Officer Rich Barton said in an interview. “Zillow will be the beneficiary of dragging the industry into the future,” he said. “This feels like a tectonic shift to me and not just a cycle.”Market ReactionZillow shares were up 56% this year through the close of trading on Thursday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Record Cloud, Record Annual Recurring Revenues (ARR) and Record Operating Cash FlowsDeclares Cash Dividend of $0.1746 Per Common ShareWATERLOO, Ontario, Aug.

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Rocket Companies (NYSE: RKT) made its public debut Thursday morning, opening at $18 after being priced at $18.The company listed its shares on the NYSE under the ticker symbol RKT. Underwriters for the IPO includes Goldman Sachs, Morgan Stanley and Credit Suisse.This highly-anticipated debut comes after the IPO market cooled down since the spring. Last month, Rocket Companies said it had planned to raise as much as $3.8 billion by selling 150 million shares at a target offering price range of between $20 and $22.The IPO's proceeds will be used to finance business purchases and stock from Rocket's existing holding company, Rock Holdings Inc., owned by founder and majority shareholder Dan Gilbert.Related Link:Rocket Companies Prices IPO At Per Share: Here's Why It Marks A Paradigm Shift In Financial ServicesQuicken Loans Chairman Dan Gilbert. Photo by Emily Elconin.See more from Benzinga * Roku Reports Q2 Earnings Beat, Adds 3.2M Active Accounts * Why Alterity's Stock Is Trading Lower Today * Why Zimmer Biomet's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Yahoo Finance’s On the Move panel discuss The Financial times report that Microsoft interested in buying TikTok U.S. and global business.

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Barclays upgraded Wayfair to Hold from Sell after the online furniture store exceeded analysts' expectations for second-quarter revenue driven by increased demand for its e-commerce products during the coronavirus pandemic.Wayfair (W) posted earnings of $3.13 per share in the second quarter topping Street estimates for $1.04 per share. Total revenue rose 84% to $4.3 billion in the reported quarter year-on-year, beating the $4.06 billion forecast by analysts.Barclays' Tennant raised the stock's price target to $321 (6.5% upside potential) from $153. In a research note, the analyst said said that “Wayfair's model includes continued sales acceleration, visibility on a sustained path to profitability, and "materially improved" cash flow resulting from COVID-19-driven trends in home.”Meanwhile, Oppenheimer analyst Brian Nagel maintained a Buy rating and lifted his price target to $395 (31.1% upside potential) from $200. He stated that his "continued positive call on Wayfair is generally longer term in nature and considers potential nearer-term volatility in shares.”Piper Sandler analyst Peter Keith, who increased the price target to $370 (22.8% upside potential) from $275, believes that Wayfair's "long-term EBITDA margin target of 8%-10% now looks conservative.” Keith maintained a Buy rating.Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 11 Buys, 9 Holds, and 3 Sells. Following Wayfair's 234% stock rally year-to-date, the average price target of $261.59 implies downside potential of 13%. (See W stock analysis on TipRanks).Related News: Etsy Crushes 2Q Revenue Expectations; Roth Raises Stock To Buy Roku Tops 2Q Estimates But Cautions About Ad Outlook Zynga Rises On Record 2Q Revenues Fueled By Digital Gaming Demand More recent articles from Smarter Analyst: * Live Nation 2Q Loss Widens; Shares Decline * Bausch Health To Spin Off Eye Care Business; Shares Surge 18% * WDC Sinks 11% In Pre-Market On Earnings Outlook Miss * Wix Plunging 10% As Earnings Fall Far Below Expectations

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Biocept (NASDAQ: BIOC) shares are trading higher on Thursday after the company announced an agreement with Aegea Biotechnologies to develop new, highly sensitive PCR-based Covid-19 assay.Biocept is an early commercial-stage molecular oncology diagnostics company. It develops and commercializes proprietary circulating tumor cells and circulating tumor DNA assays utilizing a standard blood sample. The company's lung, breast, and gastric cancer assays provide information to oncologists and other physicians that enable them to select personalized treatment for their patients based on detailed data on the characteristics of tumors.Its products include CEE-Sure BCT, and Target Selector Kits. Geographically, it operates through the United States, which is also the revenue generation region for the group.Biocept shares were trading up 25.80% at $1.12 time of publication on Thursday. The stock has a 52-week high of $1.30 and a 52-week low of 21 cents.See more from Benzinga * Why Trimble's Stock Is Trading Higher Today * Why Bluebird Bio's Stock Is Trading Higher Today * Rocket Companies Opens For Trading At IPO Price(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Shares in web developer Wix.com (WIX) are dropping 10% in Thursday’s trading after its second quarter earnings fell short of investor expectations.Specifically, Q2 Non-GAAP EPS of -$0.26 missed Street estimates by $0.51 while GAAP EPS of -$1.06 also missed consensus by $0.56 due to increased investment in marketing.On the positive side, revenue of $236.06M beat Street estimates by $3.09M- and represented year-over-year growth of 27.3%. Creative Subscriptions revenue came in at $190.2M, up 21% year-over-year, with Business Solutions revenue of $45.9M, up 62% year-over-year.Lior Shemesh, CFO of Wix referred to an ‘immense uplift in demand’ in recent months, driven by the rapidly increasing importance of having an online presence.“We are responding to this continued heightened demand by increasing our investment in marketing, which based on our historical data, will drive continued collections and revenue growth in the near future” he stated.Indeed, WIX added a record 9.3M users (up 18% year-over-year) and 346,000 net premium subscriptions (up 17%) in the second quarter, with users purchasing Business and eCommerce subscription packages and annual and multi-year packages at a higher frequency.The company also revealed that it is expecting revenue growth of 26-27% year-over-year and collections growth of 31-34% year-over-year in the third quarter. That’s alongside free cash flow of $16-18M (down 38-45%).“Wix is taking market share during the pandemic with 50% of users coming to Wix with a domain registered elsewhere, and the company continued to lean in on marketing spend in Q2” comments RBC Capital analyst Mark Mahaney.He thinks Revenue could potentially accelerate in H2 with the sustained momentum for Digital Presence and the launch of Editor X in July expanding Wix’s Agency opportunity. Indeed, Wix is trying to beef up its e-Commerce capabilities to close the gap with competitors like SHOP.As a result, the analyst has a buy rating on the stock with a $350 price target. Despite shares having more than doubled year-to-date Mahaney’s price target indicates further upside potential still lies ahead. (See WIX stock analysis on TipRanks).Overall WIX scores a bullish Strong Buy consensus from the Street although the average analyst price target indicates that shares will continue to pull back from current levels.Related News: Zimmer Biomet Slips 3.7% On 2Q Profit Decline Roku Tops 2Q Estimates But Cautions About Ad Outlook 3D Systems Drops 7% In After-Hours On Wider-Than-Expected 2Q Loss More recent articles from Smarter Analyst: * Live Nation 2Q Loss Widens; Shares Decline * Barclays Upgrades Wayfair, Lifts PT After 2Q Sales Beat * Bausch Health To Spin Off Eye Care Business; Shares Surge 18% * WDC Sinks 11% In Pre-Market On Earnings Outlook Miss

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The race to be first to market with a COVID-19 vaccine is changing gears. As the companies developing vaccine/therapeutics move further down the development path, the commercial aspect is starting to take a more prominent part in the conversation.mRNA vaccine maker Moderna (MRNA) is one of the companies currently leading the pack, but it needs to be vigilant of rivals’ progress. Shares of Moderna hit a speed bump on Wednesday and trended downwards on account of positive developments in the progress of rivals Novavax (NVAX) and Johnson & Johnson’s (JNJ) respective COVID-19 vaccine programs.Novavax’ candidate NVX-CoV2373 performed well in a phase 1 study and drew positive responses from several Street analysts. While J&J’s pricing ($10 per dose in its deal with the U.S. government) might put pressure on Moderna to significantly reduce the $32 to $37 per dose price range its small volume deals have bought in so far for mRNA-1273, its COVID-19 vaccine candidate.Nevertheless, so far, Moderna’s candidate is making its way smoothly through the clinical trial process.And that is where the key focus lies. Should the company report positive data from the recently initiated Phase 3 mRNA-1273 trial, then the rules of the game will change in its favor. This is a point picked by Oppenheimer analyst Hartaj Singh. The 5-star analyst believes Moderna is well positioned to build on the several agreements it has already made to supply $400 million’s worth of the potential vaccine.Singh opined “As the global community now sets its sights on potential late-stage COVID-19 vaccine data over the coming quarters, a greater share of the conversation has shifted toward commercialization and pricing… While MRNA navigates vaccine supply agreements and a potential commercialization of mRNA-1273, we anticipate volatility in the shares to continue. Nonetheless, clinical updates from P2 and eventually P3, in parallel with a further clarified regulatory path to approval, position MRNA well over the coming 12-18 months, in our view.”Accordingly, Singh keeps his Outperform (i.e. Buy) rating as is, along with a $108 price target. What does it mean for investors? Upside potential of 47% from current levels. (To watch Singh’s track record, click here)The rest of the Street concurs. 12 Buy ratings and 3 Holds coalesce to a Strong Buy consensus rating. With an average price target of $92.54, the analysts forecast upside of 28% over the coming months. (See Moderna stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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The most popular Robinhood stocks fall into two distinct categories that are very distinct.

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