Needham & Company Maintains a 'Buy' on CoStar Group (CSGP); Going Gangbusters; Encouraged By Accelerating Trends

Needham & Company maintains a 'Buy' on CoStar Group (NASDAQ: CSGP) price target raised $2 to $72.00.

Needham analyst says, "Q3 performance was impressive, highlighted by record bookings, strong customer cross-sales activity, and record new subscribers. We’re encouraged by the positive impact of next-gen iPad app CoStar Go out of the gate, which we believe could help drive accelerated rev growth and upside scenarios through next year." (Needham raises FY11 EPS estimate from $1.11 to $1.20 and FY12 from $1.33 to $1.34)

For more ratings news on CoStar Group click here and for the rating history of CoStar Group click here.

Shares of CoStar Group closed at $63.89 yesterday.

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