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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.
