RBC Capital analyst Ashish Sabadra lowered the firm’s price target on CoStar Group (CSGP) to $57 from $75 and keeps a Sector Perform rating on the shares after its Q4 results. Bookings came in below expectations and declined sequentially while Multifamily revenue in Q4 also missed consensus estimates, the analyst tells investors in a research note. Changes to segment reporting have made it increasingly difficult to assess Multifamily growth and track Homes revenues and investments against stated mid-term targets, the firm added.
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