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Zillow posts mixed Q2 2026 results; Bernstein downgrades stock on weaker outlook

Company Fundamentals
06 Aug 2026
Tony Dante
View Source
Bearish
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Zillow Group reported Q2 2026 revenue of $772 million, beating estimates, and adjusted EPS of $0.52, also above expectations. However, the company posted a GAAP net loss of $4 million due to impairment and restructuring costs. Bernstein downgraded Zillow from Outperform to Market Perform and cut its price target from $50 to $38, citing concerns over weaker revenue guidance and slower growth in the Residential segment. Despite strong Q2 results, investor caution remains due to uncertain housing market conditions and Zillow's transition to a new business model.

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