Zillow Group

ZG · NASDAQ

$34.05−$1.09 (−3.10%)TodayMarket closed · Oct 23, 7:49 PM ET

Prev close $35.14

ZG analyst rating

BuyConsensus of 22 analysts over the last 12 months. 55% rate it a buy.

Strong buy0
Buy12
Hold10
Underperform0
Sell0

12-month price target · 22 analysts

Average $46.95 (+37.9% upside)

Low: $32.41
Now: $34.05
High: $86.95

Upgrades and downgrades

The latest rating actions, newest first

ZG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 12, 2026	Maintains	Equal-Weight	$35.00 → $31.00	35%
RBC Capital	Sep 11, 2026	Maintains	Outperform	$55.00	54%
JP Morgan	Aug 11, 2026	Maintains	Overweight	$76.00 → $62.00	35%
DA Davidson	Aug 7, 2026	Maintains	Buy	$60.00 → $50.00	41%
Piper Sandler	Aug 7, 2026	Maintains	Overweight	$55.00 → $46.00	58%
Citizens	Aug 7, 2026	Maintains	Market Outperform	$75.00 → $46.00	54%
Wells Fargo	Aug 7, 2026	Maintains	Equal-Weight	$46.00 → $35.00	35%
Canaccord Genuity	Aug 6, 2026	Maintains	Hold	$52.00 → $40.00	51%
Citigroup	Aug 6, 2026	Maintains	Buy	$68.00 → $52.00	57%
RBC Capital	Aug 6, 2026	Maintains	Outperform	$70.00 → $55.00	54%

The case for and against

Updated Oct 21, 2026

Bull case

Zillow Group is positioned to benefit from a stronger monetization mix as Preferred connections rise toward 75% to 80% by year-end and full rollout is expected by Q2 next year, lifting revenue per connection about 35% above legacy levels. Its integrated platform across Residential, Zillow Home Loans, Rentals, and agent software creates multiple upsell paths, while Zillow Home Loans carries an implied roughly 20-point margin advantage from near-zero customer acquisition costs and profitable unit economics. Fundamentally, the company is improving conversion and engagement through Follow Up Boss, AI Mode, and richer inventory, while 2Q'26 results of $772M revenue and $176M adjusted EBITDA show that growth and margin expansion are already translating into performance.

Bear case

Zillow Group is facing a difficult macro backdrop as mortgage-to-income remains around 34%, above the roughly 30% level needed to revive transaction volume, while softer high-end demand and no near-term catalyst suggest continued pressure on housing activity. The company’s core residential business appears vulnerable as inventory and transactions stay depressed, Premier Agent growth is challenged, and the shift to Preferred creates a 200-300 bps headwind to For Sale revenue plus a near-term EBITDA drag, with 3Q total revenue guided at $745M-$760M and adjusted EBITDA at $180M-$200M. Ongoing risks from rising rates, inflation, lower realtor ad budgets, home price volatility, and incremental investments that could slow margin expansion reinforce a negative fundamental outlook.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.