Costar Group (CSGP): Notes From The Road - Needham

September 30, 2016 6:14 AM EDT
Get Alerts CSGP Hot Sheet
Price: $209.02 --0%

Rating Summary:
    9 Buy, 1 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Needham & Company analyst, Mayank Tandon, reiterated his Buy rating on shares of CoStar Group (NASDAQ: CSGP) following company sponsored management meetings. The analyst believes the company has a multi-billion-dollar market opportunity, high barriers to entry, and the potential for low double-digit organic revenue growth and sustained EBITDA margin expansion. He sees CoStar as a core holding name for growth-oriented investors.

Management reaffirmed their stated goal of hitting $1 billion in revenue in 2018 and exiting the year with 40% EBITDA margins even while continuing to invest to ensure their stronghold on the target market and the long-term growth of the business.

No change to the price target of $240.

For an analyst ratings summary and ratings history on CoStar Group click here. For more ratings news on CoStar Group click here.

Shares of CoStar Group closed at $216.12 yesterday.

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