IRLC

Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Zillow Group, Inc. (Nasdaq: Z)

Retrieved on: 
Tuesday, March 5, 2024
The Company, MBP, Homes.com, Flex, National Association, Total, Outline, MLS, Pressure, Record, Marketing, Growth, Super Bowl, TAM, SBC, Disclosure, Advertising, History, CoStar Group, Policy, Optimism, NAR, Humboldt Hill, California, Probability, Acceleration, Research, IRLC, Real estate

Key indicators show Zillow is experiencing a rapid decline in web traffic, which is the foundation for the Premier Agent business.

Key Points: 
  • Key indicators show Zillow is experiencing a rapid decline in web traffic, which is the foundation for the Premier Agent business.
  • Spruce Point believes these practices require significant management judgement as some consumers may have multiple commitment letters from different banks/vendors.
  • Spruce Point believes Zillow should provide more disclosure around assumptions on the timing and conversion of leads and mortgages.
  • As a reminder, our full report, along with its investment disclaimers, can be downloaded and viewed at www.SprucePointCap.com .