BTIG on Zillow Group (ZG): 'This isn't an immediate threat given lack of coverage & mobile-only visibility'
BTIG analyst Jake Fuller reiterated a Neutral rating on Zillow Group (NASDAQ: ZG).
The analyst comments "Google (GOOG, Not Rated) is rolling out a for-sale listings carousel in mobile, adding to pressure w/ZG facing challenges on multiple fronts. Highlights: 1. GOOG has been testing listings in select cities since Dec. '25, but announced today it will roll out nationally, 2. GOOG's partner doesn't have full national coverage yet, so we expect the roll-out to be more city-by-city vs. an immediate broad launch, 3. This isn't an immediate threat given lack of coverage & mobile-only visibility, but GOOG is targeting the same buyside agent budget, we've seen it play the long game before (travel comes to mind) & having access to listings as AI begins to reshape top-of-funnel activity is a worry, 4. This challenge is evolving at the same time that ZG is battling Compass (COMP, Buy, $12 PT) over private listings. While difficult to quantify risk, ZG's long-time dominance in real estate feels less certain as the portal war continues to escalate."
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Shares of Zillow Group closed at $34.10 yesterday.