CoStar shares are trading lower after the company reported worse-than-expected Q3 revenue results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $107 to $100.
Portfolio Pulse from Benzinga Newsdesk
CoStar shares declined following disappointing Q3 revenue results. Needham maintained a Buy rating but reduced the price target from $107 to $100.
October 23, 2024 | 11:31 am
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NEGATIVE IMPACT
CoStar's shares dropped due to Q3 revenue results missing expectations. Needham maintained a Buy rating but lowered the price target from $107 to $100, indicating a cautious outlook.
The revenue miss directly impacts investor sentiment negatively, leading to a share price drop. The maintained Buy rating suggests long-term confidence, but the reduced price target reflects short-term caution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100