Zillow Group price target lowered to $95 from $110 at Benchmark

Benchmark lowered the firm’s price target on Zillow (Z) Group (ZG) to $95 from $110 and keeps a Buy rating on the shares. Shares looked bid down about 5% after-hours following a “strong” Q1 report, but “light” Q2 guidance, says the analyst, who adds that “the real debate will likely be less about the 2Q outlook” and more about the reiterated full-year guidance. The firm adds that it thinks “today’s snapshot tells a very different picture from the narrative 12 months from now, with a strong buyback helping keep a floor until growth really reaccelerates and margins explode upwards.”