Zillow Group price target lowered to $34 from $37 at Truist

Truist analyst Naved Khan lowered the firm’s price target on Zillow Group to $34 from $37 and keeps a Hold rating on the shares. The company appears to be weathering housing slowdown slightly better relative to the category, but weakening demand will likely continue to pressure core Premier Agent revenue over the near term, the analyst tells investors in a research note. Khan adds however that he likes Zillow’s continued progress on strategic initiatives aimed at positioning the company as a "housing super app" and drive increased monetization.