Android app on Google Play

Needham & Company Positive on CoStar Group (CSTR) Apartments.com Acquisition

March 4, 2014 8:43 AM EST Send to a Friend
Get Alerts CSGP Hot Sheet
Price: $156.28 -2.01%

Rating Summary:
    7 Buy, 1 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 14 | New: 19
Trade CSGP Now!
Join SI Premium – FREE
Needham & Company analyst Michael Huang is positive on CoStar Group's (NASDAQ: CSGP) Apartments.com acquisition, announced yesterday. He said the move should accelerate CoStar's positioning in multi-family asset class, a $2 trillion asset class, with relatively minimal integration risk. The analyst maintained a Buy rating and price target of $210 on the name.

"We view the acquisition of Apartments.com positively, as we believe it should accelerate CoStar's positioning in multi-family asset class, a $2 trillion asset class, with relatively minimal integration risk," Huang said. "Apartments.com represents a leading apartment rentals online marketplace (with 7 million uniques/month), which importantly could feed important demand data to CoStar's information/analytics products. Also, not only does the deal deepen CoStar's sales efforts across local geographies and enhance LoopNet growth prospects, it also creates cross-selling opportunities of core CoStar information services into the Apartments customer base."

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 $200.28 yesterday.




You May Also Be Interested In


Related Categories

Analyst Comments, Mergers and Acquisitions

Related Entities

Needham & Company, Definitive Agreement

Add Your Comment