$Z 82 shares of real estate information marketplace Zillow (Z) are falling after the company reported second quarter earnings that fell considerably shy of analysts' estimates. WHAT’S NEW: Last night, Zillow reported second quarter earnings per share of (30c) and revenue of $46.9M. Consensus estimates for EPS and revenue were (11c) and $44.42M, respectively. Despite the earnings miss, the company issued slightly higher than expected revenue guidance for the third quarter. Meanwhile, Zillow raised its full year revenue guidance to $186M-$188M from $178M-$182M. Analysts' consensus estimate was $183.31M. ANALYST REACTION: This morning, RBC Capital downgraded Zillow to Sector Perform from Outperform, citing valuation. Conversely, Benchmark Co. raised its price target on Zillow to $105 from $75, citing the company's accelerating traffic growth in Q2 and its belief that the company is making progress on increasing the amount of revenue that it obtains from its website. The firm kept a Buy rating on the stock.. PRICE ACTION: In late morning trading, Zillow fell $8.29 or 914% to $82.42 on more than double the average daily volume. :theflyonthewall.com