Added to YB: 2026-04-28
Pitch date: 2026-04-26
CSGP [bullish]
CoStar Group, Inc.
+0.11%
current return
Author Info
No bio for this author
Company Info
CoStar Group, Inc. provides information, analytics, and online marketplace services to real estate and related business communities in the United States, Australia, Canada, Europe, the Asia Pacific, and Latin America.
Market Cap
$15.3B
Pitch Price
$36.20
Price Target
59.45 (+63%)
Dividend
N/A
EV/EBITDA
59.86
P/E
2.2K
EV/Sales
4.57
Sector
Real Estate Management and Development
Category
turnaround
CoStar: A Wide Moat Digitalizing Real Estate
CSGP: 59 qtrs straight double-digit rev growth through crises, yet stock flat 5yrs vs S&P +100%. Dominant CRE data moat (270k subs, ~$1B rev) w/ low penetration of global TAM. Apartments.com success ($600M acq→$1.2B rev) proves marketplace playbook. Bear case: $5B Homes.com bet vs Zillow struggling ($100M rev, abandoned 2027 targets); Third Point pushed for cuts, then exited. Bull: core biz AI-proof w/ pricing power, LoopNet upside, Matterport/Domain acqs. $4B cash, zero debt. Mgmt cut resi spend $300M, $700M buyback. Fair value $55 vs ~$40 today = 30% discount. 2% starter position.
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