CoStar Group's Careful Management Of Costs Amid Strong Competitive Foothold To Propel Growth: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Mayank Tandon reiterated a Buy rating on CoStar Group, Inc. (CSGP), raising the price target to $100 from $90. Despite mixed 2Q23 results and a lower FY23 revenue outlook due to weaker CRE market conditions, the analyst remains bullish on CSGP due to its careful cost management and strong growth in areas like Apartments.com and Suite. However, CSGP shares are trading lower by 8% to $84.46.
July 26, 2023 | 7:15 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Despite mixed 2Q23 results and a lower FY23 revenue outlook, Needham analyst remains bullish on CoStar Group (CSGP) due to its careful cost management and strong growth in key areas. However, CSGP shares are trading lower by 8%.
The analyst's bullish stance on CSGP despite mixed results and a lower revenue outlook indicates confidence in the company's cost management and growth potential. However, the current drop in share price suggests market uncertainty, leading to a neutral short-term impact score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100