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Investing.com - Wolfe Research initiated coverage on CoStar Group (NASDAQ:CSGP) with an Outperform rating and a price target of $105.00. According to InvestingPro data, CoStar maintains a strong financial position with more cash than debt and a healthy current ratio of 5.83x, supporting its growth initiatives.
The research firm cited potential investment returns from Homes.com, continued strength in Apartments.com, and stable growth in LoopNet and CoStar Suite as key factors supporting its positive outlook on the stock.
Wolfe Research expects these elements to help drive low double-digit to low teens top-line growth over the medium term, with operating leverage leading to significant margin expansion and EBITDA growth.
The firm’s calendar year 2025, 2026, and 2027 adjusted EBITDA estimates of $388 million, $733 million, and $1.093 billion are generally in line with Street consensus of $387 million, $726 million, and $1.095 billion, respectively.
CoStar Group shares are up 23% year-to-date, outperforming both the S&P 500’s 9% gain and Wolfe’s Business and Information Services Index, which is down 5% during the same period.
In other recent news, CoStar Group Inc. reported a strong performance in its second-quarter 2025 earnings, with revenue increasing by 15% year-over-year to $781 million. The company also achieved record net new bookings of $93 million, which represents a 65% sequential rise. Additionally, CoStar Group completed its acquisition of Domain Holdings Australia Limited, a leading property marketplace in Australia. This acquisition aims to combine CoStar’s global scale and technology with Domain’s local expertise and brand portfolio. Domain reportedly reaches approximately 7 million Australians monthly, enhancing CoStar’s presence in the Australian property market. These recent developments reflect CoStar Group’s strategic initiatives to expand its market influence and financial performance.
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