Mayank Tandon, an analyst from Needham, reiterated the Buy rating on CoStar Group (CSGP – Research Report). The associated price target was raised to $98.00.
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Mayank Tandon has given his Buy rating due to a combination of factors related to CoStar Group’s recent performance and strategic initiatives. The company’s first-quarter results surpassed market expectations, driven by contributions from recent acquisitions and effective cost management strategies.
Despite facing challenging conditions in the commercial real estate market, CoStar Group’s long-term prospects remain strong. The company is actively expanding its portfolio through mergers and acquisitions, such as the recent acquisition of MTTR and the potential acquisition of Domain. Additionally, CoStar Group is committed to enhancing organic growth and improving profit margins, which supports the positive outlook and justifies the Buy rating.
According to TipRanks, Tandon is an analyst with an average return of -5.2% and a 36.88% success rate. Tandon covers the Technology sector, focusing on stocks such as WNS, Globant SA, and Cognizant.
In another report released today, KBW also maintained a Buy rating on the stock with a $95.00 price target.