IYR - Zillow Will Always Be A Real Estate Titan; Invest For The Long Haul
- Shares of Zillow dropped 10% after reporting Q1 results and issuing softer-than-expected guidance for Q2.
- Decelerating growth in the IMT segment/Premier Agent revenue is a chief concern for investors; Zillow is expecting growth in this segment to flatline in Q2.
- The slowdown is a function of tightening housing markets and rising interest rates.
- Still, Zillow remains the premier website for real estate research with the lion's share of online traffic, and the company continues to aim for $5 billion in revenue and a 45% adjusted EBITDA margin.
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Zillow Will Always Be A Real Estate Titan; Invest For The Long Haul