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Zillow Group’s latest analyst update keeps its fair value estimate steady at US$74.78, which puts the focus less on a headline target move and more on what is changing underneath the story. Street research is split, with some firms trimming their price targets while still keeping positive ratings, and others turning more cautious as they weigh legal risks and listing rule shifts against Zillow’s product plans like Flex. As you read on, you will see how to track these shifting opinions and what to watch as the narrative evolves.

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• JPMorgan highlights the recent 25% share price pullback since the Q4 earnings report and describes it as driven by fears around AI, litigation, and listing model changes, while still pointing to what it calls strong fundamentals.

• JPMorgan also frames Zillow’s March 24 AI summit as a key moment for management to show how vertical integration, last mile data ownership, and closed loop workflows could support what it views as a defensible moat against horizontal AI players.

• Bernstein keeps an Outperform rating even after cutting its target to US$95 from US$105, signaling continued confidence in the story despite a lower valuation mark.

• Citizens maintains an Outperform rating with a reduced target of US$85 from US$90, while focusing on how changes in listing processes at Compass and Anywhere might affect Zillow’s user experience over time.

• Mizuho moves to Neutral from Outperform and trims its target to US$70 from US$100, citing uncertainty around real estate listing distribution, litigation magnitude, and potential pressure on the Flex program.

• Multiple firms, including JPMorgan, BofA, UBS, Mizuho, Piper Sandler, Cantor Fitzgerald, and others, have reduced price targets, reflecting concern about regulatory risk, industry structure, and how those factors could affect execution and growth plans.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives!

See how Zillow Group’s fair value stacks up across multiple valuation models — not just analyst targets.

• Zillow is increasing its use of AI across home search, listings, and agent tools, with coverage in Wired highlighting growing interest in AI driven real estate platforms.

• Wired reports that Google is testing home listings in search results through a partnership with HouseCanary, along with real estate agent ads, which has prompted market discussion about competitive pressure and possible buyout speculation involving Zillow.

• The same Wired report connects Google’s experiments with a recent dip in Zillow’s share price and renewed debate over how much of the real estate funnel could be contained within large tech platforms.

• Bloomberg reports that Compass lost a bid to block certain Zillow listing rules, keeping those rules in place as legal attention remains focused on how online listing distribution is controlled and presented.