William Blair analyst Stephen Sheldon has reiterated their bullish stance on CSGP stock, giving a Buy rating on December 8.
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Stephen Sheldon’s rating is based on a combination of factors that highlight CoStar Group’s potential for growth and value creation. He expresses confidence in the company’s core businesses, such as Suite, Apartments.com, and LoopNet, which are expected to experience accelerating organic revenue growth by 2026. This optimism is bolstered by increased sales capacity and a favorable commercial real estate environment.
Additionally, Sheldon is positive about the future of Homes.com, noting recent positive trends in net new bookings and progress towards key milestones. He suggests that CoStar’s board is likely to address investor concerns by reducing spending on Homes.com, pursuing aggressive share buybacks, and leveraging AI to adapt to changing consumer engagement channels. Despite the current valuation challenges, Sheldon believes CoStar’s core businesses offer a compelling risk/reward profile, reinforcing his Buy rating.
In another report released on December 8, Needham also assigned a Buy rating to the stock with a $105.00 price target.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CSGP in relation to earlier this year.