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ARLINGTON, Va. - CoStar Group, Inc. (NASDAQ:CSGP), a $38.4 billion market cap company and prominent player in real estate analytics, has appointed Grant Montgomery as National Director of Multifamily Analytics, the company announced Wednesday in a press release. According to InvestingPro data, the company maintains impressive revenue growth of 12.2% and an industry-leading gross profit margin of 79.3%.
Montgomery, who brings more than 25 years of real estate research and consulting experience to the role, will serve as the company’s industry-facing representative for the multifamily sector, delivering data-driven market perspectives and outlooks. This appointment comes as CoStar Group trades near its 52-week high, reflecting strong market confidence in the company’s strategic direction.
In his previous position as Vice President of Research for Elme Communities, Montgomery led strategic quantitative market analysis that supported the company’s transformation into a multifamily REIT. Before that, he served as Senior Vice President and Apartment Practice Director at Delta Associates, where he provided market condition insights to developers, lenders, and public agencies.
"Grant’s vast experience in real estate research and operations, coupled with CoStar’s unparalleled multifamily data and analytics, will provide our clients with insights into the multifamily market’s key trends and developments," said Galina Alexeenko, Vice President of CoStar Group Market Analytics, in the statement.
As the company’s subject matter expert on multifamily themes and trends, Montgomery will utilize CoStar’s data resources to provide analytics and insights for clients and the broader commercial real estate industry.
CoStar Group describes itself as a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. The company operates several brands including CoStar, LoopNet, Apartments.com, Homes.com, Matterport, STR, Ten-X, and OnTheMarket. With a strong current ratio of 5.83, the company demonstrates robust financial health. For deeper insights into CoStar Group’s valuation and growth prospects, including exclusive ProTips and comprehensive financial analysis, visit InvestingPro, where you’ll find detailed research reports and expert commentary.
In other recent news, CoStar Group’s second-quarter earnings and revenue results have exceeded expectations, drawing positive reactions from several analyst firms. Needham raised its price target for CoStar Group to $105, citing strong quarterly results and a 65% increase in net new bookings. Similarly, Citi increased its price target to $100, highlighting a significant 55% year-over-year rise in commercial real estate bookings. Goldman Sachs maintained its Buy rating and $105 price target, noting that CoStar’s earnings surpassed both its estimates and consensus forecasts. The company also raised its full-year guidance for revenue and EBITDA margins, further boosting investor confidence.
BMO Capital adjusted its price target to $89, acknowledging the solid revenue growth in the second quarter, although attributing some of the performance to expense timing. JMP Securities reiterated a Market Outperform rating and a $100 price target, emphasizing the company’s strong EBITDA margins in its core business. These developments reflect a positive outlook from analysts, focusing on CoStar’s robust financial performance and growth potential.
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