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  "documentTitle": "Zillow Group, Inc. (Z)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-03-05 00:00:00",
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  "notes": "The slide uses a table of analyst ratings and a pie chart to visualize the lack of bearish sentiment despite negative company news.",
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      "text": "Miraculously, there are still sell-side analysts recommending to buy Zillow’s stock despite the Company eliminating its 2025 revenue target, lowering 2024 revenue guidance and consensus estimates for Adj. EBITDA being way below management’s 2025E target.",
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      "text": "Average Price Target: $60.14",
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      "text": "Miraculously, there are still sell-side analysts recommending to buy Zillow's stock despite the Company eliminating its 2025 revenue target, lowering 2024 revenue guidance and consensus estimates for Adj. EBITDA being way below management's 2025E target.",
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      "text": "Source: Bloomberg and Spruce Point analysis",
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      "text": "Analyst, Recommendation, Price Target table",
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      "kind": "title",
      "text": "Owning Zillow's Stock Is A Poor Risk / Reward",
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      "evidence": "The document concludes with a predicted victory for Spruce Point's short thesis, with a 40-60% downside risk to Zillow's stock price.",
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