CoStar is seeking to disrupt commercial real estate industry by building network effects and scale with a vast database of property information. The company has a de-facto monopoly over this information, allowing it to raise prices regularly. Recent quarterly results showed a 12% revenue increase and the acquisition of Matterport highlights further opportunities in Homes.com.
The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.
A near 30% hit to shares of CoStar Group Inc (NASDAQ: CSGP) spells opportunity to buy a quality name at a discount, says Nicholas Jones – a JMP Securities analyst. CoStar stock could climb to $110 He reiterated his “outperform” rating on the real estate data and analytics firm on Wednesday.
CoStar (CSGP) reported earnings 30 days ago. What's next for the stock?