Zillow Group, Inc. operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services. In addition, the company's brand portfolio includes Zillow Premier Agent, Zillow Home Loans, Zillow Rentals, Trulia, StreetEasy, HotPads, and Out East; and a suite of marketing software and technology solutions for the real estate industry, including ShowingTime+, Spruce, and Follow Up Boss. Zillow Group, Inc. was incorporated in 2004 and is headquartered in Seattle, Washington.

Zillow remains a company with strong revenue and a notable improvement in operating efficiency, but the market is already pricing this in quite generously. Revenue of $708 million and growth in gross profit support the case for business scalability, and the gross margin of around 72.9% looks healthy for a platform model. At the same time, a P/E of 125.9, P/FCF of 24.2, and P/B of 1.45 indicate that the valuation does not look cheap, especially against the backdrop of weak return on equity. ROE of 1.18%, ROA of 1.0%, and return on tangible equity of 3.54% remain low compared with the industry, which limits the potential for re-rating. Net income and EPS remain unstable: TTM EPS is negative, and forward EPS is also around zero, which suggests that earnings durability has not yet been proven. Operating profit is already positive, but the operating margin of 0.43% is still very thin and sensitive to the housing market cycle. The balance sheet does not appear overly leveraged overall: debt/equity is zero, and long-term debt is moderate; however, liquidity on a quick ratio basis is effectively weak, and cash on hand has declined compared with previous periods. The current ratio of 1.92 is acceptable, but its decline from higher levels shows that the cushion is shrinking. Equity remains large, but it is also gradually decreasing, which does not add confidence in the sustainability of the balance sheet trend. Compared with the industry, Zillow looks better in terms of revenue and several margin metrics, but worse in earnings quality and capital returns. Overall, the fundamentals support a moderately cautious view: the business has become noticeably more efficient, but the high valuation and weak profitability do not yet justify an aggressive increase in the target price.

Zillow Group, Inc.

Сильный индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Strong index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Сильный индекс, значительно упал. Рынок не поддерживает быков.

Strong index, significantly down. The market does not support the bulls.

Сильный индекс, без изменений. Отток средств из лонгов на высоком уровне.

Strong index, flat. Outflow of funds from longs at a high level.

Revenue and gross profit growth support Zillow, but its high valuation, weak return on equity, and unstable earnings limit revaluation potential.

Zillow Group shares have fallen sharply toward 52-week lows, potentially putting the online real estate giant back on investors’ radars.
Zillow’s Class C shares Z) and Class A shares ZG) are both trading around $30, just above their respective 52-week lows of $29 a share.
However, the housing backdrop remains challenging. The Federal Reserve raised its benchmark rate by 25 basis points this week to a range of 3.75%-4.00%, while the average 30-year fixed mortgage rate has climbed to 6.95%, up from 6.76% a week earlier and 6.26% a year ago.
While the Fed does not directly set mortgage rates, additional monetary tightening can reinforce elevated borrowing costs and housing affordability concerns—a clear near-term headwind for Zillow’s home-buying and mortgage ecosystem.
Z vs. ZG: What's the Difference?
Investors essentially get exposure to the same underlying Zillow business with either ticker.
ZG represents Zillow's Class A common stock, which carries voting rights, while Z represents Class C shares, which generally have no voting rights. Zillow also has unlisted Class B shares with enhanced voting power.
For most investors focused primarily on Zillow's financial performance, the economic exposure of Z and ZG is largely similar, although the shares can trade at slightly different prices because of voting rights, liquidity, and supply.
Zillow's Growth Outlook Remains Solid
Despite housing-market weakness, Zillow continues to grow faster than the broader residential real estate market.
Most recently, Q2 revenue increased 18% to $772 million, with residential revenue rising 7%, rentals revenue jumping 31%, and mortgage revenue surging 75% as purchase-loan originations nearly doubled.
Management expects 2026 revenue of $2.92-$2.96 billion (+13% growth) and adjusted EBITDA of $730-$760 million (+17% growth).
Meanwhile, the Zacks Consensus calls for EPS of $2.22 this year, up 35%, followed by another 21% increase to $2.69 per share in 2027. That said, FY26 and FY27 earnings estimates are slightly down in the last 60 days, reflecting the more difficult housing environment.
Image Source: Zacks Investment Research
Zillow's Valuation Looks More Appealing
The selloff has made Zillow’s valuation considerably more appealing, with Z and ZG shares trading at roughly 13X forward earnings and near the often preferred level of less than 2X forward sales.
Both metrics offer a compelling discount to the benchmark S&P 500, although inexpensive shares alone may not be enough to overcome another prolonged period of elevated mortgage rates.
Image Source: Zacks Investment Research
Bottom Line
Zillow's plunge toward 52-week lows has created a much more reasonable valuation, while double-digit revenue growth and strong expansion across its mortgage and rental businesses provide reasons for longer-term optimism.
However, the Fed's latest rate hike and mortgage rates approaching 7% could keep housing activity subdued and limit Zillow's near-term upside.
For now, Zillow's Z and ZG shares both land a Zacks Rank #3 (Hold), suggesting investors may want to see greater improvement in the interest-rate and housing outlook before aggressively buying the dip.
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Zillow Stock Near 52-Week Lows: Is It Time to Buy the Dip?

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Zillow (ZG) Q2 2026 Earnings Call Transcript

Key Points
Zillow is operating in a tough real estate market at the moment.
It's still growing, though.
It faces challenges, but it has diversified into rentals and mortgages.
If you're interested in the real estate market and would like to profit from it without actually buying homes or other buildings, you might be invested in Zillow Group (NASDAQ: Z) (NASDAQ: ZG) -- or may be thinking of investing in it. The stock is down about 60% over the past year, and it dropped nearly 13% in a single day in early August, before closing down 8%.
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That's a sign of concern regarding the digital real estate specialist, and it may also present a good buying opportunity. Here's a closer look at the situation.
The reason for the drop was the company's second-quarter earnings report, which featured:
Revenue up 18% year over year
Mortgage revenue up 75%
Rentals revenue up 31%
So far, so good, right? The report also featured this, though:
Traffic to Zillow's mobile apps and sites was down 2% year over year.
Zillow's average monthly unique users declined 2% to 239 million (but this was true across the category, and Zillow fared better than average).
Perhaps the worst news is that Alphabet's Google will now display real estate listings in all 50 states, which is very likely to have an impact on Zillow.
There are some positives for Zillow, though. Per management, it's implementing artificial intelligence (AI) effectively: "Consumers who use AI mode spend more than three times as long on Zillow, view more than twice as many homes, run nearly three times as many searches -- and contact an agent at nearly three times the rate of consumers who don't use AI mode. The same pattern holds in rentals..."
Greater use of AI may be behind the company's recent layoff of 500-plus people. That's bad for those people, but investors often see layoffs positively, if they result in leaner, more profitable operations.
So, should you invest in Zillow? Well, maybe, if you're doing so for the long term and you're risk-tolerant. The real estate market is tough these days, and the company still posted a double-digit gain. Alternatively, you might consider a real estate fund, which offers greater diversification.
Should you buy stock in Zillow Group right now?
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is Zillow (Z) Stock a Buy After Falling Nearly 13% in 1 Day?

The S&P 500 Index ($SPX) (SPY) closed down -0.18% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.85%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.39%. September E-mini S&P futures (ESU26) fell -0.18%, and September E-mini Nasdaq futures (NQU26) fell -0.32%.
Stock indices gave up an early advance and settled lower on Thursday. Escalating tensions in the Middle East pushed crude oil prices sharply higher, fanning inflation fears and boosting bond yields. The lack of clarity on a deal to reopen the Strait of Hormuz fueled a sharp jump in crude prices, stoking concerns the Fed may have to raise interest rates. The 10-year T-note yield rose +5 bp to 4.66%.
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Weakness in software stocks also weighed on the broader market on Thursday, led by a -18% plunge in Datadog after it reported Q2 adjusted gross margin below consensus. Technology stocks were also under pressure on Thursday, led by a -20% fall in AppLovin after it missed analysts’ revenue estimates. Memory chipmakers also retreated on Thursday after SanDisk forecast weaker-than-expected Q1 revenue.
Some positive corporate earnings results supported stocks on Thursday. Motorola Solutions, APA Corp, Paycom Software, Ormat, and Parker-Hannifin all rallied sharply on Thursday after reporting stronger-than-expected earnings.
Stocks also found support on Thursday’s better-than-expected US economic news, including weekly jobless claims, Q2 nonfarm productivity, and Q2 labor costs.
US weekly initial unemployment claims rose by +1,000 to 199,000, showing a stronger labor market than expectations of 205,000.
US Q2 nonfarm productivity rose +1.4%, stronger than expectations of +0.6%. Q2 unit labor costs rose +1.3%, less than expectations of +2.1%.
A report on Thursday in the Financial Times was bearish for stocks and bonds after it said Fed Chair Warsh is willing to raise interest rates at the September FOMC meeting if inflation firms and market expectations shift further towards tightening in the coming months.
Sep WTI crude oil prices (CLU26) rallied more than +2% on Thursday today after Iran's semi-official Fars news agency reported that vessels belonging to the US, Israel, or any other nation that has "caused damage" to Iran would be prohibited from the Strait of Hormuz under the proposed deal with Oman to reopen the waterway, which would restrict some oil exports from several Gulf States. Also, Yemen's Houthi rebels said they targeted a Saudi oil tanker with a ballistic missile in the Gulf of Aden. Crude prices added to their gains Thursday afternoon when Iran said it struck “hostile targets” at the entrance of the Strait of Hormuz.
The markets are waiting for news of an Iran-Oman agreement to partially reopen the Strait of Hormuz. A joint statement from the two countries is under review, and the route would remain active for two to four months, though the agreement does not mean a full reopening, according to Iranian officials. Iran said that a normalization of the strait will depend on the US lifting its blockade on Iranian ports.
The outlook for strong Q2 earnings is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 430 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 58% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 rose to a new all-time high and closed up +0.39%. China's Shanghai Composite climbed to a 3-week high and closed up +0.57%. Japan's Nikkei-225 Stock Average closed down -0.93%.
Interest Rates
September 10-year T-notes (ZNU6) closed down -12.5 ticks on Thursday. The 10-year T-note yield rose +5.3 bp to 4.666%. T-note prices retreated on Thursday after a +2% increase in WTI crude oil raised inflation expectations. Also, Thursday’s smaller-than-expected increase in weekly jobless claims signals strength in the US labor market that is hawkish for Fed policy. T-notes added to their losses after a report from the Financial Times said that Fed Chair Warsh is willing to raise interest rates at next month’s FOMC meeting if inflation firms and inflation expectations increase.
Losses in T-notes were limited on Thursday after Q2 nonfarm productivity rose more than expected and Q2 unit labor costs rose less than expected, dovish factors for Fed policy.
European government bond yields moved higher on Thursday. The 10-year German bund yield rose +2.9 bp to 3.140%. The 10-year UK gilt yield rose +4.7 bp to 4.938%.
Eurozone June retail sales unexpectedly fell -0.3% m/m, weaker than expectations of a +0.1% m/m increase
German Jun factory orders rose +3.1% m/m, stronger than expectations of +0.5% m/m.
Markets are discounting an 87% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Datadog (DDOG) closed down more than -18% to lead software stocks lower on Thursday after reporting Q2 adjusted gross margin of 80%, below the consensus of 80.7%. Also, Salesforce (CRM) closed down more than -3%, and Atlassian Corp (TEAM) closed down more than -2%. In addition, Intuit (INTU), International Business Machines (IBM), and Palantir Technologies (PLTR) closed down more than -1%.
Airline stocks and cruise line operators fell on Thursday after crude oil prices rose more than +2%. Norwegian Cruise Line Holdings (NCLH) closed down more than -4%, and American Airlines Group (AAL) and Southwest Airlines (LUV) closed down more than -3%. Also, United Airlines Holdings (UAL), Alaska Air Group (ALK), Carnival (CCL), and Royal Caribbean Cruises (RCL) closed down more than -2%, and Delta Air Lines (DAL) closed down more than -1%.
Memory chipmakers slid on Thursday on disappointing earnings from Sandisk and Western Digital. Western Digital (WDC) closed down more than -13%, and Sandisk (SNDK) closed down more than -6% after forecasting Q1 revenue of $10.30 billion to $10.80 billion, weaker than the consensus of $11.16 billion. Also, Micron Technology (MU) closed down more than -1%.
Energy stocks and service providers rose on Thursday after WTI crude oil climbed by more than +2%. Occidental Petroleum (OXY) closed up more than +4%, and SLB Ltd (SLB) closed more than +3%. Also, Baker Hughes (BKR), Devon Energy (DVN), and Halliburton (HAL) closed up more than +2%, and Diamondback Energy (FANG), ExxonMobil Holdings (XOM), Phillips 66 (PSX), Chevron (CVX), and ConocoPhillips (COP) closed up more than +1%.
Honeywell Aerospace (HONA) closed down more than -23% to lead losers in the S&P 500 and Nasdaq 100 after cutting its full-year organic growth estimate to 4% to 5% from a previous estimate of 7% to 9%.
AppLovin (APP) closed down more than -19% after reporting Q2 revenue growth of $1.92 billion, below the consensus of $1.94 billion.
HubSpot (HUBS) closed down more than -19% after forecasting Q3 revenue of $924 million to $925 million, well below the consensus of $942.5 million.
Celsius Holdings (CELH) closed down more than -18% after reporting Q2 revenue of $817.9 million, well below the consensus of $872.6 million.
Zillow Group (ZG) closed down more than -8% after forecasting Q3 revenue of $745 million to $760 million, below the consensus of $773.6 million.
Host Hotels & Resorts (HST) closed down more than -6% after raising its full-year capital expenditure estimate to $567 million to $647 million from a previous estimate of $525 million to $625 million, above the consensus of $576.8 million.
Paycom Software (PAYC) closed up more than +23% after raising its full-year revenue estimate to $2.20 billion to $2.21 billion from a previous estimate of $2.28 billion to $2.20 billion, above the consensus of $2.19 billion.
Unity Software (U) closed up more than +15% after reporting Q2 revenue of $546.5 million, stronger than the consensus of $515 million.
Ormat Technologies (ORA) closed up more than +9% after raising its full-year revenue forecast to $1.15 billion to $1.20 billion from a previous forecast of $1.11 billion to $1.16 billion.
Motorola Solutions (MSI) closed up more than +8% to lead gainers in the S&P 500 after reporting Q2 net sales of $3.13 billion, above the consensus of $3.00 billion.
Parker-Hannifin (PH) closed up more than +7% after reporting Q4 net sales of $5.76 billion, stronger than the consensus of $5.58 billion.
Albemarle (ALB) closed up more than +5% after reporting Q2 adjusted EPS of $3.75, well above the consensus of $3.22.
Earnings Reports (8/7/2026)
Ascendis Pharma A/S (ASND), Freedom Holding Corp/NV (FRHC), Mobility Global Inc (MBGL), Oklo Inc (OKLO), PPL Corp (PPL), Take-Two Interactive Software (TTWO), Vistra Corp (VST).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Lower as Middle East Tensions Rise

The S&P 500 Index ($SPX) (SPY) today is up +0.07%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.38%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.26%. September E-mini S&P futures (ESU26) are up +0.13%, and September E-mini Nasdaq futures (NQU26) are up +0.12%.
Stock indices are mixed today. Weakness in software stocks is weighing on the broader market, led by a -15% plunge in Datadog after it reported Q2 adjusted gross margin below consensus. Technology stocks are also under pressure, led by a -19% fall in AppLovin after it missed analysts’ revenue estimates. Memory chipmakers are retreating today after SanDisk forecast weaker-than-expected Q1 revenue.
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However, a rebound in chipmakers is limiting losses in the overall market after initially moving lower on negative carryover from today’s -4% decline in South Korea’s Kospi Index, led by losses in SK Hynix and Samsung Electronics. Also, some positive corporate earnings results are supporting stocks today. Motorola Solutions, IonQ, Paycom Software, Ormat, and Parker-Hannifin are all climbing today after forecasting stronger-than-expected revenue.
Stocks also found support on today’s better-than-expected US economic news, including weekly jobless claims, Q2 nonfarm productivity, and Q2 labor costs.
US weekly initial unemployment claims rose by +1,000 to 199,000, showing a stronger labor market than expectations of 205,000.
US Q2 nonfarm productivity rose +1.4%, stronger than expectations of +0.6%. Q2 unit labor costs rose +1.3%, less than expectations of +2.1%.
A report today in the Financial Times was bearish for stocks and bonds after it said Fed Chair Warsh is willing to raise interest rates at the September FOMC meeting if inflation firms and market expectations shift further towards tightening in the coming months.
Sep WTI crude oil prices (CLU26) are up more than +1% today after Yemen's Houthi rebels said they targeted a Saudi oil tanker with a ballistic missile in the Gulf of Aden. The markets are waiting for news of an Iran-Oman agreement to partially reopen the Strait of Hormuz. A joint statement from the two countries is under review, and the route would remain active for two to four months, though the agreement does not mean a full reopening, according to Iranian officials. Iran said that a normalization of the strait will depend on the US lifting its blockade on Iranian ports.
The outlook for strong Q2 earnings is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 412 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 58% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 rose to a new all-time high and is up +0.74%. China's Shanghai Composite climbed to a 3-week high and closed up +0.57%. Japan's Nikkei-225 Stock Average closed down -0.93%.
Interest Rates
September 10-year T-notes (ZNU6) are down -6 ticks today. The 10-year T-note yield is up +2.9 bp to 4.641%. T-note prices are under pressure today from a +1% increase in WTI crude oil, which raises inflation expectations. Also, today’s smaller-than-expected increase in weekly jobless claims signals strength in the US labor market that is hawkish for Fed policy. T-notes remained lower after a report from the Financial Times said that Fed Chair Warsh is willing to raise interest rates at next month’s FOMC meeting if inflation firms and inflation expectations increase.
Losses in T-notes are limited after Q2 nonfarm productivity rose more than expected and Q2 unit labor costs rose less than expected, dovish factors for Fed policy.
European government bond yields are moving higher today. The 10-year German bund yield is up +0.7 bp to 3.118%. The 10-year UK gilt yield is up +2.7 bp to 4.917%.
Eurozone June retail sales unexpectedly fell -0.3% m/m, weaker than expectations of a +0.1% m/m increase
German Jun factory orders rose +3.1% m/m, stronger than expectations of +0.5% m/m.
Markets are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Datadog (DDOG) is down more than -14% to lead software stocks lower after reporting Q2 adjusted gross margin of 80%, below the consensus of 80.7%. Also, Salesforce (CRM) is down more than -4% to lead losers in the Dow Jones Industrials, and Atlassian Corp (TEAM) is down more than -3%. In addition, Workday (WDAY), Intuit (INTU), and ServiceNow (NOW) are down more than -2%, and Adobe Systems (ADBE), Autodesk (ADSK), International Business Machines (IBM), and Palantir Technologies (PLTR) are down more than -1%.
Chipmakers recovered from early losses and are moving higher, giving the broader market a boost. ARM Holdings (ARM) is up more than +5%, and ASML Holding NV (ASML), ON Semiconductor (ON), and Marvel Technology (MRVL) are up more than +2%. Also, Advanced Micro Devices (AMD), Broadcom (AVGO), KLA Corp (KLAC), Microchip Technology (MCHP), NXP Semiconductors (NXPI), Intel (INTC), Lam Research (LRCX), Qualcomm (QCOM), and Texas Instruments (TXN) are up more than +1%.
Memory chipmakers are sliding today on disappointing earnings from Sandisk and Western Digital. Western Digital is down more than -13%, and Sandisk (SNDK) is down more than -6% after forecasting Q1 revenue of $10.30 billion to $10.80 billion, weaker than the consensus of $11.16 billion. Also, Micron Technology (MU) is down more than -2%.
Paycom Software (PAYC) is up more than +22% after raising its full-year revenue estimate to $2.20 billion to $2.21 billion from a previous estimate of $2.28 billion to $2.20 billion, above the consensus of $2.19 billion.
Unity Software (U) is up more than +12% after reporting Q2 revenue of $546.5 million, stronger than the consensus of $515 million.
Ormat Technologies (ORA) is up more than +11% after raising its full-year revenue forecast to $1.15 billion to $1.20 billion from a previous forecast of $1.11 billion to $1.16 billion.
Albemarle (ALB) is up more than +8% to lead gainers in the S&P 500 after reporting Q2 adjusted EPS of $3.75, well above the consensus of $3.22.
Motorola Solutions (MSI) is up more than +7% after reporting Q2 net sales of $3.13 billion, above the consensus of $3.00 billion.
Parker-Hannifin (PH) is up more than +7% after reporting Q4 net sales of $5.76 billion, stronger than the consensus of $5.58 billion.
HubSpot (HUBS) is down more than -21% after forecasting Q3 revenue of $924 million to $925 million, well below the consensus of $942.5 million.
Honeywell Aerospace (HONA) is down more than -20% to lead losers in the S&P 500 and Nasdaq 100 after cutting its full-year organic growth estimate to 4% to 5% from a previous estimate of 7% to 9%.
AppLovin (APP) is down more than -19% after reporting Q2 revenue growth of $1.92 billion, below the consensus of $1.94 billion.
Celsius Holdings (CELH) is down more than -17% after reporting Q2 revenue of $817.9 million, well below the consensus of $872.6 million.
Zillow Group (ZG) is down more than -12% after forecasting Q3 revenue of $745 million to $760 million, below the consensus of $773.6 million.
Fiserv (FISV) is down more than -3% after reporting Q2 adjusted revenue of $4.96 billion, weaker than the consensus of $5.05 billion.
Earnings Reports (8/6/2026)
Aflac Inc (AFL), Airbnb Inc (ABNB), Akamai Technologies Inc (AKAM), American International Group Inc (AIG), Becton Dickinson & Co (BDX), Bio-Techne Corp (TECH), ConocoPhillips (COP), Consolidated Edison Inc (ED), Constellation Energy Corp (CEG), Datadog Inc (DDOG), Evergy Inc (EVRG), Fiserv Inc (FISV), Fox Corp (FOXA), Gen Digital Inc (GEN), Howmet Aerospace Inc (HWM), Kenvue Inc (KVUE), Keurig Dr Pepper Inc (KDP), Microchip Technology Inc (MCHP), Molson Coors Beverage Co (TAP), Monster Beverage Corp (MNST), Parker-Hannifin Corp (PH), Ralph Lauren Corp (RL), Republic Services Inc (RSG), ResMed Inc (RMD), Sempra (SRE), Targa Resources Corp (TRGP), Trade Desk Inc/The (TTD), Viatris Inc (VTRS), Warner Bros Discovery Inc (WBD), Zoetis Inc (ZTS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Waver on Mixed Earnings and Chipmaker Strength

The S&P 500 Index ($SPX) (SPY) today is up +0.17%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.30%. September E-mini S&P futures (ESU26) are up +0.11%, and September E-mini Nasdaq futures (NQU26) are down -0.36%.
Stock indices are mixed today. Weakness in software stocks is weighing on the broader market, led by a -15% plunge in Datadog after it reported Q2 adjusted gross margin below consensus. Technology stocks are also under pressure, led by a -19% fall in AppLovin after it missed analysts’ revenue estimates. Memory chipmakers are retreating today after SanDisk forecast weaker-than-expected Q1 revenue. Chipmakers are also weighed down by negative carryover from today’s -4% decline in South Korea’s Kospi Index, led by losses in SK Hynix and Samsung Electronics.
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Some positive corporate earnings results are supporting stocks today. Motorola Solutions, IonQ, Paycom Software, Ormat, and Parker-Hannifin are all climbing today after forecasting stronger-than-expected revenue.
Stocks also found support on today’s better-than-expected US economic news, including weekly jobless claims, Q2 nonfarm productivity, and Q2 labor costs.
US weekly initial unemployment claims rose by +1,000 to 199,000, showing a stronger labor market than expectations of 205,000.
US Q2 nonfarm productivity rose +1.4%, stronger than expectations of +0.6%. Q2 unit labor costs rose +1.3%, less than expectations of +2.1%.
A report today from the Financial Times was bearish for stocks and bonds after it said Fed Chair Warsh is willing to raise interest rates at the September FOMC meeting if inflation firms and market expectations shift further towards tightening in the coming months.
Sep WTI crude oil prices (CLU26) are up more than +1% today after Yemen's Houthi rebels said they targeted a Saudi oil tanker with a ballistic missile in the Gulf of Aden. The markets are waiting for news of an Iran-Oman agreement to partially reopen the Strait of Hormuz. A joint statement from the two countries is under review, and the route would remain active for two to four months, though the agreement does not mean a full reopening, according to Iranian officials. Iran said that a normalization of the strait will depend on the US lifting its blockade on Iranian ports.
The outlook for strong Q2 earnings is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 412 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 58% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 rose to a new all-time high and is up +0.51%. China's Shanghai Composite climbed to a 3-week high and closed up +0.57%. Japan's Nikkei-225 Stock Average closed down -0.93%.
Interest Rates
September 10-year T-notes (ZNU6) are down -5 ticks today. The 10-year T-note yield is up +2.2 bp to 4.635%. T-note prices are under pressure today from a +1% increase in WTI crude oil, which raises inflation expectations. Also, today’s smaller-than-expected increase in weekly jobless claims signals strength in the US labor market that is hawkish for Fed policy. T-notes remained lower after a report from the Financial Times said that Fed Chair Warsh is willing to raise interest rates at next month’s FOMC meeting if inflation firms and inflation expectations increase.
Losses in T-notes are limited after Q2 nonfarm productivity rose more than expected and Q2 unit labor costs rose less than expected, dovish factors for Fed policy.
European government bond yields are moving higher today. The 10-year German bund yield is up +0.3 bp to 3.114%. The 10-year UK gilt yield is up +2.0 bp to 4.910%.
Eurozone June retail sales unexpectedly fell -0.3% m/m, weaker than expectations of a +0.1% m/m increase
German Jun factory orders rose +3.1% m/m, stronger than expectations of +0.5% m/m.
Markets are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Datadog (DDOG) is down more than -15% to lead software stocks lower after reporting Q2 adjusted gross margin of 80%, below the consensus of 80.7%. Also, Salesforce (CRM) is down more than -4% to lead losers in the Dow Jones Industrials, and Palantir Technologies (PLTR) is down more than -3%. In addition, Atlassian Corp (TEAM), Workday (WDAY), and ServiceNow (NOW) are down more than -2%, and Adobe Systems (ADBE) and Intuit (INTU) are down more than -1%.
Memory chipmakers are sliding today on disappointing earnings from Sandisk and Western Digital. Western Digital is down more than -13%, and Sandisk (SNDK) is down more than -6% after forecasting Q1 revenue of $10.30 billion to $10.80 billion, weaker than the consensus of $11.16 billion. Also, Micron Technology (MU) is down more than -2%.
Paycom Software (PAYC) is up more than +23% after raising its full-year revenue estimate to $2.20 billion to $2.21 billion from a previous estimate of $2.28 billion to $2.20 billion, above the consensus of $2.19 billion.
Unity Software (U) is up more than +11% after reporting Q2 revenue of $546.5 million, stronger than the consensus of $515 million.
Motorola Solutions (MSI) is up more than +10% to lead gainers in the S&P 500 after reporting Q2 net sales of $3.13 billion, above the consensus of $3.00 billion.
Parker-Hannifin (PH) is up more than +9% after reporting Q4 net sales of $5.76 billion, stronger than the consensus of $5.58 billion.
Ormat Technologies (ORA) is up more than +7% after raising its full-year revenue forecast to $1.15 billion to $1.20 billion from a previous forecast of $1.11 billion to $1.16 billion.
DoorDash (DASH) is up more than +3% to lead gainers in the Nasdaq 100 after reporting Q2 revenue of $4.45 billion, better than the consensus of $4.34 billion.
Honeywell Aerospace (HONA) is down more than -20% to lead losers in the S&P 500 after cutting its full-year organic growth estimate to 4% to 5% from a previous estimate of 7% to 9%.
AppLovin (APP) is down more than -19% after reporting Q2 revenue growth of $1.92 billion, below the consensus of $1.94 billion.
HubSpot (HUBS) is down more than -18% after forecasting Q3 revenue of $924 million to $925 million, well below the consensus of $942.5 million.
Celsius Holdings (CELH) is down more than -14% after reporting Q2 revenue of $817.9 million, well below the consensus of $872.6 million.
Zillow Group (ZG) is down more than -14% after forecasting Q3 revenue of $745 million to $760 million, below the consensus of $773.6 million.
Fiserv (FISV) is down more than -7% after reporting Q2 adjusted revenue of $4.96 billion, weaker than the consensus of $5.05 billion.
Earnings Reports (8/6/2026)
Aflac Inc (AFL), Airbnb Inc (ABNB), Akamai Technologies Inc (AKAM), American International Group Inc (AIG), Becton Dickinson & Co (BDX), Bio-Techne Corp (TECH), ConocoPhillips (COP), Consolidated Edison Inc (ED), Constellation Energy Corp (CEG), Datadog Inc (DDOG), Evergy Inc (EVRG), Fiserv Inc (FISV), Fox Corp (FOXA), Gen Digital Inc (GEN), Howmet Aerospace Inc (HWM), Kenvue Inc (KVUE), Keurig Dr Pepper Inc (KDP), Microchip Technology Inc (MCHP), Molson Coors Beverage Co (TAP), Monster Beverage Corp (MNST), Parker-Hannifin Corp (PH), Ralph Lauren Corp (RL), Republic Services Inc (RSG), ResMed Inc (RMD), Sempra (SRE), Targa Resources Corp (TRGP), Trade Desk Inc/The (TTD), Viatris Inc (VTRS), Warner Bros Discovery Inc (WBD), Zoetis Inc (ZTS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured by Weakness in Software and Tech Stocks

Zillow Group, Inc. ZG reported strong second-quarter 2026 results, with both adjusted earnings and revenues beating the Zacks Consensus Estimate.
The company reported an 18% year-over-year increase in total revenues, primarily driven by robust growth in the mortgages segment, supported by continued strength in the rentals business and steady momentum in the residential segment, reflecting sustained demand across its integrated real estate platform.
Net Income
On a GAAP basis, the company reported a net loss of $4 million or a loss of 2 cents per share against a net income of $2 million or 1 penny per share in the year-ago quarter. Higher costs and operating expenses pressured the bottom line during the quarter.
Non-GAAP net income in the reported quarter was $118 million or 52 cents per share compared with $101 million or 40 cents per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate of 44 cents.
Zillow Group, Inc. Price, Consensus and EPS Surprise
Revenues
Quarterly revenues increased to $772 million from $655 million in the year-ago quarter. Healthy growth in all segments boosted the top line. The top line beat the Zacks Consensus Estimate of $759.5 million.
Residential revenues increased 7% to $465 million, primarily driven by the expansion of Zillow Preferred through increased connections in its fully integrated experience, with additional contributions from Zillow Showcase, New Construction and agent software tools.
The mortgages segment generated $84 million in revenues compared with $48 million in the year-earlier quarter, mainly due to 95% growth in purchase loan origination as the company’s mortgage strategy is encouraging more buyers to use Zillow Home Loans.
Rental revenues rose 31% to $209 million, primarily driven by a 42% increase in multifamily revenues.
Other Details
During the quarter, the company recorded a gross profit of $562 million compared with $489 million in the prior-year quarter, with respective margins of 73% and 75%. The operating expenses during the quarter were $572 million, up from $500 million in the prior-year quarter. Adjusted EBITDA was $176 million compared with $155 million a year ago, with respective margins of 23% and 24%.
Cash Flow & Liquidity
In the second quarter, Zillow generated $11 million in cash from operations compared with $87 million in the year-earlier quarter. During the first six months of 2026, the company generated $211 million in cash compared with $191 million in the year-ago period. As of June 30, 2026, it had $572 million in cash and cash equivalents, with $77 million of lease liabilities (net of current portion).
Outlook
For the third quarter of 2026, Zillow expects total revenues in the range of $745-$760 million. Total adjusted EBITDA is expected in the band of $180 million to $200 million. Management expects Mortgages’ revenues to grow more than 50% year over year. Residential revenue growth is projected to be flat, while rental revenues are expected to increase in the high 20% range.
For the fourth quarter of 2026, Zillow expects residential revenue growth to align with the purchase mortgage industry, while adjusted EBITDA is projected to be in the mid-single-digit range. For 2026, the company projects total revenues between $2.92 billion and $ 2.96 billion, and adjusted EBITDA is expected to be in the range of $730- $760 million.
Zacks Rank
Zillow currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Keysight Technologies, Inc. KEYS is scheduled to release third-quarter fiscal 2026 earnings on Aug. 18. The Zacks Consensus Estimate for earnings is pegged at $2.46 per share, suggesting growth of 43.02% from the year-ago reported figure.
Keysight has a long-term earnings growth expectation of 19.44%. The company delivered an average earnings surprise of 9.46% in the last four reported quarters.
Analog Devices, Inc. ADI is set to release third-quarter fiscal 2026 earnings Aug. 19. The Zacks Consensus Estimate for earnings is pegged at $3.33 per share, implying growth of 62.44% from the year-ago reported figure.
Analog Devices has a long-term earnings growth expectation of 31.04%. The company delivered an average earnings surprise of 5.48% in the last four reported quarters.
Applied Materials, Inc. AMAT is scheduled to release third-quarter fiscal 2026 earnings on Aug. 13. The Zacks Consensus Estimate for earnings is pegged at $3.36 per share, suggesting growth of 35.48% from the year-ago reported figure.
Applied Materials has a long-term earnings growth expectation of 32.44%. The company delivered an average earnings surprise of 6.06% in the last four reported quarters.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zillow Q2 Earnings Surpass Estimates on Solid Revenue Growth

Zillow Group (ZG) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.47 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 116.67%. A quarter ago, it was expected that this online real estate marketplace would post earnings of $0.15 per share when it actually produced earnings of $0.35, delivering a surprise of 133.33%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Zillow, which belongs to the Zacks Internet - Services industry, posted revenues of $506 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 6.97%. This compares to year-ago revenues of $1.01 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Zillow shares have added about 74% since the beginning of the year versus the S&P 500's gain of 19.2%.
What's Next for Zillow?
While Zillow has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Zillow: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.34 on $497.76 million in revenues for the coming quarter and $1.10 on $1.9 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Services is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
LiveVox Holdings, Inc. (LVOX), another stock in the same industry, has yet to report results for the quarter ended June 2023. The results are expected to be released on August 8.
This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +83.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
LiveVox Holdings, Inc.'s revenues are expected to be $34.76 million, up 5.4% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zillow Group (ZG) Beats Q2 Earnings and Revenue Estimates

(RTTNews) - Zillow Group, Inc. (ZG) on Wednesday reported higher revenue in the second quarter and first half of 2026, although it slipped to a quarterly loss while remaining profitable for the six-month period.
For the second quarter, revenue increased 18 percent to $772 million from $655 million a year earlier. Net loss was $4 million, compared with net income of $2 million in the prior-year quarter. Loss per share was $0.02, compared with earnings per share of $0.01 a year earlier. Adjusted EBITDA rose to $176 million from $155 million.
For the first half of 2026, revenue increased 18 percent to $1.48 billion from $1.25 billion in the same period last year. Net income increased to $42 million from $10 million a year earlier. Earnings per share improved to $0.18 from $0.04, while adjusted EBITDA rose to $374 million from $308 million.
ZG is currently trading at $33.25, down $3.64 or 9.87 percent on the Nasdaq.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zillow Swings To Loss In Q2

(RTTNews) - Zillow Group Inc. (ZG) will host a conference call at 5.00 PM ET, on August 5, 2026, to discuss Q2 26 earnings results.
To access the live webcast, log on to https://investors.zillowgroup.com/investors/news-and-events/events-and-presentations
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zillow Group, Inc.

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