Zillow selloff creates buying opportunity, says JPMorgan

JPMorgan views the 25% pullback in Zillow (Z) Group shares since the Q4 earnings report as a buying opportunity. The selloff reflects fears around AI disruption, litigation and regulatory scrutiny, and industry shifts around listing distribution models, the analyst tells investors in a research note. JPMorgan views Zillow’s March 24 AI summit as an opportunity for management to demonstrate why the company’s “vertical integration, last-mile data ownership, and closed-loop workflows create a defensible moat against horizontal AI.” The firm views the selloff as overreaction given Zillow’s “strong fundamentals.”