Zillow (Z) Group (ZG) and CoStar Group (CSGP) shares are moving lower following reports this weekend that Google (GOOG) is testing for-sale home listings directly into its search results. Piper Sandler calls fears around Zillow as “overblown.” This is not the first time a search engine has attempted to use MLS data in search, the analyst tells investors in a research note. Piper does not see an impact to Zillow’s business and questions if Google has the right to use MLS data in its searches. It recommends buying Zillow on weakness and keeps an Overweight rating on the stock with an $85 price target. Zillow Group in midday trading is down 9%, or $6.23, to $66.15. CoStar, which owns Apartments.com and Homes.com, is down 7% to $63.50.
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