BUZZ-Zillow shares drop after Q4 earnings miss estimates

Zillow Group ZG.O drops ~14% to $72.27 after online home-listings firm reported adjusted earnings that missed analyst estimates

ZG is on track for the second straight session of losses as well as the biggest daily pct drop since Nov 2021

After the closing bell on Tues, Co reported adj EPS of 27 cents, slightly lower than the average analyst estimate of 29 cents; but revenue rose ~17% to $554 mln, beating the Wall Street estimate of $545.30 mln, per LSEG data

ZG also reported a GAAP loss of $52 mln, narrower than $73 mln reported a year ago

Following the result, Deutsche Bank cut its PT on ZG to $92 from $95 although Bank of America Global Research raised their PT to $84 from $81 while Benchmark raised their PT to $110 from $100

Among 28 analysts covering ZG, avg rating is "BUY" and their median PT is $90, up from $78.60 a month ago, per LSEG data

ZG is up ~3% YTD versus ~25% gain in 2024