Needham analyst Mayank Tandon has reiterated their bullish stance on CSGP stock, giving a Buy rating today.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight CoStar Group’s strong performance and strategic execution. The company’s second-quarter results surpassed market expectations, driven by robust overall strength and strategic investment timing. CoStar Group achieved record net new bookings with a significant quarter-over-quarter increase, and its core EBITDA margins were notably high at 43%.
Furthermore, while the guidance for the third quarter was in line with expectations, the margin outlook was slightly lower due to planned expenses for expanding the sales force. However, the full-year 2025 outlook was revised upwards, reflecting the strong performance in the second quarter. The company’s ongoing efforts to digitize the global real estate industry, coupled with its ability to generate strong organic growth and improve EBITDA margins, reinforce the positive outlook and justify the Buy rating.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $101.00 price target.