On Oct 24, major Wall Street analysts update their ratings for $CoStar (CSGP.US)$, with price targets ranging from $83 to $100.
J.P. Morgan analyst Alexei Gogolev maintains with a buy rating, and adjusts the target price from $108 to $99.
Citi analyst Peter Christiansen maintains with a buy rating, and adjusts the target price from $97 to $90.
Needham analyst Mayank Tandon maintains with a buy rating, and adjusts the target price from $107 to $100.
RBC Capital analyst Ashish Sabadra downgrades to a hold rating, and adjusts the target price from $96 to $83.
JMP Securities analyst Nicholas Jones CFA maintains with a buy rating, and maintains the target price at $90.
Furthermore, according to the comprehensive report, the opinions of $CoStar (CSGP.US)$'s main analysts recently are as follows:
CoStar Group's third quarter has been characterized as another transitional period, with expectations that the bookings may have reached their lowest point and that revenue growth is anticipated to follow suit in the fourth quarter. The forecast for growth and margins in fiscal 2025 has been moderated due to the anticipated short-term decrease in bookings affecting the first half of the upcoming year.
CoStar Group's Q3 results surpassed the consensus, primarily due to margins that were higher than anticipated. Although the growth in the company's Commercial business matched predictions and showed a slight deceleration sequentially, the Residential segment's performance was somewhat below expectations.
CoStar Group's core bookings saw a year-over-year reduction of 34%, and Homes.com bookings decreased to $1M in Q3 from $55M in the first half of the year, despite increased investments. It's anticipated that while the return of CoStar's core salesforce may provide some benefit, persistently high interest rates are expected to maintain pressure on the demand environment. Consequently, there is a possibility that the company's organic revenue growth, excluding residential, may experience further moderation in the upcoming fiscal year.
Here are the latest investment ratings and price targets for $CoStar (CSGP.US)$ from 5 analysts:
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