Needham lowered the firm’s price target on CoStar Group (CSGP) to $87 from $100 and keeps a Buy rating on the shares after its Q4 results and below-consensus Q1 guidance. Q4 saw healthy trends across most business segments, notably Costar Suite and Multifamily, and SG&A leverage, but Q1 andFY25 guides were both soft as weaker bookings quarters in 2024 are expected to weigh on growth in 2025 on top of prolonged commercial real estate market challenges, the analyst tells investors in a research note.
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