Hedge-fund manager sees big upside for Zillow and these other tech stocks

Share
Andrew Harrer | Bloomberg | Getty Images

(This story is for CNBC Pro subscribers only.)

Hedge-fund manager Eric Jackson told CNBC on Monday he believes technology stocks are well-positioned to build off a strong 2020, and he pointed to Zillow as one name in particular with more upside ahead.

In an interview on "Closing Bell," the president and portfolio manager of Toronto-based EMJ Capital said Zillow is "revolutionizing real estate" in the digital age. For that reason, Jackson said, Zillow is in a position to build off its robust gains last year, when shares soared more than 200%.

"They're obviously making a big push into something called iBuying — buying and selling your homes online," Jackson said. "I think if investors ever wake up and start valuing that part of Zillow's business the way that they are currently valuing a company like Carvana, this is a stock that is easily over $200 a share this year."

Shares of Zillow finished Monday's session, the first trading day of 2021, at $136.51 apiece.

More In CNBC TV Picks

CNBC ProLeon Cooperman likes GM and these other stocks, even as he's worried about the overall market
CNBC ProAriel's John Rogers likes this stock as a way to ride the hot IPO trend
CNBC ProTom Lee says hot IPOs may be a sign retail investors are coming back to stocks