CoStar Group Inc
CSGP: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$87.00 | Vqghp | Xhqktdygwl |
CoStar Announces Aggressive Investments in Its Residential Initiative; We Maintain Our $73 FVE
Wide-moat-rated CoStar Group reported middling results in the fourth quarter, but the 2023 full-year EBITDA guidance was substantially below Wall Street expectations because of the company’s higher-than-expected investments in its residential business. Management also said that the company will not be acquiring Move Inc., which is a majority owner of Realtor.com. The shares of the company tumbled by 5% in response to the quarterly results and the 2023 guidance.