Zillow Group Stock Slides as Bear Notes Pile Up

Shares of Zillow Group Inc (NASDAQ:ZG) are sliding 10.9% to trade at $32.47 this morning, even after the housing marketplace reported adjusted second-quarter earnings of 44 cents per share on $772 million in revenue, both of which topped estimates. While guidance was reiterated, analysts weren't impressed; seven issued price-target cuts and Bernstein downgraded the stock to "market perform" from "outperform."

This is poised to be Zillow's worst single-session gain since a 17.1% post-earnings selloff on Feb. 11. ZG has suffered long-term underperformance on the charts, with the overhead 80-day moving average capping any breakout attempts this year. The shares are off 52% in 2026, though $30 looks to be a floor of support.

Analysts are split toward the equity, with just over 50% of the 31 in coverage sporting a "buy" or "strong buy" recommendation. Should this negative price action continue, it could trigger more bear notes.