Zillow Group's stock plummeted 5.04% during intraday trading on Thursday, extending a significant decline from the previous session.
The sell-off follows the company's latest quarterly earnings report, which showed revenue beating estimates but adjusted earnings per share coming in slightly below expectations. Despite providing stronger-than-expected revenue guidance for the current quarter, investors are focused on mounting legal costs and competitive risks. Analyst firm DA Davidson lowered its price target on Zillow to $75 from $95, citing these concerns, which has contributed to the negative market sentiment.
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