Published on 2 Jun 2023 on Zacks via Yahoo Finance

Zillow (ZG) Down 1.6% Since Last Earnings Report: Can It Rebound?

A month has gone by since the last earnings report for Zillow Group (ZG). Shares have lost about 1.6% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Zillow due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Zillow Group Beats Earnings and Revenue Estimates in Q1Zillow Group reported relatively modest first-quarter 2023 results, beating the bottom-line and top-line estimates. Despite recording lower revenues year over year owing to a challenging macroeconomic environment, a favorable mix of first-time home buyers combined with solid engagements in its rental platforms remained tailwinds.