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Jim Cramer's Stop Trading: Zillow Has Been Bulletproof, but That May Be Over

Stocks in this article: Z

NEW YORK (TheStreet) -- There has been one "bulletproof" stock in the software and Internet space that hasn't gotten dragged down in the selloff over the past few months: Zillow (Z)

However, on CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, pointed out that both Pacific Crest and RBC Capital Markets downgraded the stock. 

The firms reasoned that shares of Zillow have little upside and are unattractive from a valuation perspective. 

Cramer argued that CEO Spencer Rascoff will likely be out to defend his company's stock, referring to him as "one of the most activist CEOs." 

However, Cramer did agree that shares are expensive, and warned investors to be careful looking for a bottom in the stock. He concluded that it could still head lower.

-- Written by Bret Kenwell in Petoskey, Mich.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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