Commercial real estate data giant CoStar Group saw its stock price plunge to its lowest level this year after its quarterly earnings report led one analyst to downgrade the company. CoStar reported net new bookings of $44M in the third quarter, down 34% from the second quarter`s $67M in bookings and 32% from Q3 2023. This drop led RBC Capital Markets to downgrade CoStar from outperform to sector perform and reduce its price target from $96 to $83.
The company`s stock price stood at $69.90 as of 12 p.m. ET Wednesday, down 9% on the day following the earnings release. It had fallen as low as 10% earlier in the morning...
...more
RSK: Of course it has nothing to do with their product or the competition.
Share this article on you social outlets
Our Sponsors
- - Volume: 24 - WEEK: 44 Date: 10/29/2024 1:45:49 PM -