CoStar Group displayed strong performance, with impressive
full-year 2024 earnings and an
11% year-over-year revenue increase. Their digital real estate empire continues to prosper with
Apartments.com hitting the $1B revenue mark. This growth is buoyed by a
99% retention rate that contributed to a $693M revenue surge. Performance factors included acquiring
Ag-Analytics to augment Land.com capabilities and a stock buyback plan amounting to $500 million. Controversy surfaced amid stock price movements post-earnings, with some insiders allegedly selling off $8.6M of shares, stirring concerns among investors. Notably, CoStar made a significant $1.7 billion offer to acquire Australian property classified firm,
Domain. The company further plans strategic expansion into the $3.4T Farm market, potentially strengthening its portfolio. Recognition came in the form of being named among America’s best large employers by
Forbes and receipt of a prestigious innovation award. However, Citi and Citizens JMP have lowered their price target for
CSGP, reflecting mixed sentiments.
Costar Group CSGP News Analytics from Tue, 01 Oct 2024 07:00:00 GMT to Sat, 22 Feb 2025 23:16:49 GMT -
Rating 7
- Innovation 5
- Information 5
- Rumor -3
