Baird Downgrades CoStar Group (CSGP) to Neutral

Baird analyst Jeffrey Meuler downgraded CoStar Group (NASDAQ: CSGP) from Outperform to Neutral with a price target of $34.00 (from $48.00).

The analyst comments: “Downgrading to Neutral; CFO departure without guidance reiteration further reduces confidence in near-term outlook. CSGP had become a lower-conviction near-term idea relative to other also discounted valuations in the comp group. Net bookings have been disappointing in recent quarters, including 1Q26 for "core" (and Homes.com). Hence, ’26 revenue guidance midpoint or better seemed to require some bookings trend improvement that we have reduced confidence in following post-Q2-close CFO departure without guidance reiteration. Weaker near-term trends occurring while Homes.com progress disappointing relative to spend, and while Apartments.com competitive landscape consolidating.”

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 $28.77 yesterday.

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