Needham analyst Mayank Tandon lowered the firm’s price target on CoStar Group (CSGP) to $50 from $60 and keeps a Buy rating on the shares. The company delivered a solid Q1, with revenue in line and a bottom line beat that was driven by personnel cost discipline and AI efficiencies, though the firm’s reduced price target reflects multiple compression for software stocks, the analyst tells investors in a research note.
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