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CoStar Group Inc CSGP

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

CoStar Reports Strong Q4 Results With a Turbulent 2020 Having Little Adverse Impact on the Firm

Yousuf Hafuda Equity Analyst

Analyst Note

| Yousuf Hafuda |

CoStar Group reported solid fourth-quarter results, with the countercyclical elements of its business more than offsetting the challenges faced as a result of the coronavirus-related recession. Fourth-quarter revenue increased by 19% as compared with the fourth quarter of 2019. Meanwhile, adjusted EBITDA grew by nearly 18% on a year-over-year basis, meaning profitability growth roughly kept pace with revenue growth. CoStar seems to move from strength to strength, with the current crisis that has ravaged many parts of the economy boosting demand for many of its products. With a period of substantial growth already incorporated into our forecast, we are maintaining our $752 per share fair value estimate for wide-moat-rated CoStar.

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Company Profile

Business Description

CoStar Group is a leading provider of commercial real estate data and marketplace listing platforms. Its data offering contains in-depth analytical information on over 5 million commercial real estate properties related to various subsectors including office, retail, multifamily, healthcare, industrial, self-storage, and data centers. It operates five flagship brands: CoStar Suite, LoopNet, Apartments.com, BizBuySell, and LandsofAmerica with approximately three quarters of its revenue classified as subscription based. The company has also recently expanded its presence in Canada, the United Kingdom, Spain, and France.

Contact
1331 L Street
Northwest, WA, 20005
T +1 202 346-6500
Sector Real Estate
Industry Real Estate Services
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 4,752

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