CSGP
CoStar Group Inc
TMT, Finance/Real Estate
06/16/2015
Presented
| Date | 06/10/2015 |
| Price | $20.42 |
| Market Cap | $6.62B |
| Ent Value | $6.46B |
| P/E Ratio | 222x |
| Book Value | $46.74 |
| Div Yield | N/A |
| Shares O/S | 324.10M |
| Ave Daily Vol | 1,800,000 |
| Short Int | 3.28% |
Current
| Price | $78.22 |
| Market Cap | $32.06B |
| CoStar Group, Inc. provides information, analytics, and online marketplaces services to the commercial real estate industry in the United States, Canada, the United Kingdom, and France. The company primarily offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also offers CoStar COMPS Professional, which provides coverage of comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad application that integrates its property, comparable sales, and tenant information; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy and CoStar Market Analytics, which are designed to meet the research needs of commercial real estate owners, investors, and lenders. In addition, the company offers CoStar Investment Analysis Portfolio Maximizer, CoStar Investment Analysis Request, CoStar Real Estate Manager Corporate Edition, and CoStar Real Estate Manager Retail Edition that are real estate management software solutions; CoStar Private Sale Network, which provides clients with custom-designed and branded Websites; and CoStar Brokerage Applications to manage and optimize business operations. Further, it offers LoopNet Premium Lister and LoopNet Premium Searcher that are designed for commercial real estate professionals and other customers to market their listings; LoopLink, an online real estate marketing and database services suite; Apartments.com, an online apartment marketplace for renters; LandsofAmerica and LandAndFarm that are online marketplaces for rural land for sale; and BizBuySell and BizQuest, which are online marketplaces for operating businesses for sale. The company serves commercial real estate and related business community. CoStar Group, Inc. was founded in 1987 and is headquartered in Washington, the District of Columbia. |
Please note, this stock split on 06/28/2021 at a ratio of 10/1. The presented data has been updated to account for the change, however, the text of the note may refer to data based on the original presented price of $204.18.
Publicly traded companies mentioned herein: CoStar Group Inc. (CSGP), Zillow Group Inc (Z)
Highlights
The presenter believes shares of CoStar Group (CSGP) are overvalued and can’t understand what bulls like so much about its business. He sees a favorable risk/ reward for bears at any price around $200/ share. The company has been spending aggressively on its three main service offerings - CoStar, LoopNet and Apartments.com - and has recently launched a new $100 million marketing campaign with actor Jeff Goldblum. However, competition is significant and many players are jockeying for position to provide property managers and owners with a way to list openings. For example, Rent.com has recently rebranded its site and contracted J.B. Smoove in its own attempt to woo new customers.
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