Upside case
Bull case
$873+2400.3%
CSGP would need investors to value it at roughly 645x earnings — about 619x more generous than today's 26x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
CoStar Group, Inc. (CSGP) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
25
analysts
19 bullish · 2 bearish · 25 covering CSGP
Strong Buy
0
Buy
19
Hold
4
Sell
2
Strong Sell
0
Consensus Target
$62
+77.4% vs today
Scenario Range
— – $873
Model bear to bull value window
Coverage
25
Published analyst ratings
Valuation Context
25.8x
Forward P/E · Market cap $14.8B
CSGP price targets
Three scenarios for where CSGP stock could go
Current
~$35
Confidence
73 / 100
Updated
May 1, 2026
Where we are now
Current · $35
Base
$35
Bull
$873
Market caseClosest to today
Base case
$35+0.0%
This is close to how the market is already pricing CSGP — at roughly 26x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
CoStar Group, Inc.
CSGP · NASDAQReal EstateReal Estate - ServicesDecember year-end
CoStar Group is a leading provider of commercial real estate information, analytics, and online marketplace services. It generates revenue primarily through subscription-based access to its proprietary databases — including CoStar Property, CoStar COMPS, and CoStar Market Analytics — along with advertising on its apartment marketing sites. The company's key competitive advantage is its massive, meticulously maintained database of commercial property information, which creates significant switching costs and network effects as more professionals rely on its platform.
Market Cap
$14.8B
Revenue TTM
$3.4B
Net Income TTM
$25M
Net Margin
0.7%
CSGP Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
92%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
+22.3%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.17/$0.14
Revenue
$781M/$772M
Q4 2025
EPS
$0.23/$0.18
Revenue
$834M/$813M
Q1 2026
EPS
$0.31/$0.27
Revenue
$900M/$892M
Q2 2026
EPS
$0.23/$0.18
Revenue
$897M/$897M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.17/$0.14 | +23.4% | $781M/$772M | +1.2% |
| Q4 2025 | $0.23/$0.18 | +26.3% | $834M/$813M | +2.5% |
| Q1 2026 | $0.31/$0.27 | +13.6% | $900M/$892M | +0.9% |
| Q2 2026 | $0.23/$0.18 | +27.8% | $897M/$897M | +0.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$3.9B
+14.6% YoY
FY2
$4.5B
+15.7% YoY
EPS Outlook
FY1
$0.60
+876.9% YoY
FY2
$0.70
+17.7% YoY
Trailing FCF (TTM)$241M
FCF Margin: 7.1%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
CSGP beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
CSGP Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2024
Total disclosed revenue $1.7B
Product Mix
Latest annual revenue by segment or product family
CoStar Suite
61.1%
+10.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
CoStar Suite is the largest disclosed segment at 61.1% of FY 2024 revenue, up 10.3% YoY.
CSGP Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Undervalued
Fair value est. $43 — implies +23.1% from today's price.
Upside to Fair Value
23.1%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
CSGP
2102.4x
vs
S&P 500
25.1x
+8273% premium
vs Real Estate Trailing P/E
CSGP
2102.4x
vs
Real Estate
24.1x
+8610% premium
vs CSGP 5Y Avg P/E
Today
2102.4x
vs
5Y Average
95.0x
+2114% premium
Forward PE
25.8x
S&P 500
19.1x
+35%
Real Estate
26.4x
-2%
5Y Avg
—
—
Trailing PE
2102.4x
S&P 500
25.1x
+8273%
Real Estate
24.1x
+8610%
5Y Avg
95.0x
+2114%
PEG Ratio
—
S&P 500
1.72x
—
Real Estate
1.25x
—
5Y Avg
—
—
EV/EBITDA
83.5x
S&P 500
15.2x
+449%
Real Estate
16.7x
+402%
5Y Avg
58.7x
+42%
Price/FCF
360.8x
S&P 500
21.1x
+1611%
Real Estate
15.4x
+2239%
5Y Avg
75.6x
+377%
Price/Sales
4.6x
S&P 500
3.1x
+46%
Real Estate
3.0x
+53%
5Y Avg
12.8x
-64%
Dividend Yield
—
S&P 500
1.87%
—
Real Estate
4.66%
—
5Y Avg
—
—
| Metric | CSGP | S&P 500 | Real Estate | 5Y Avg CSGP |
|---|---|---|---|---|
| Forward PE | 25.8x | 19.1x+35% | 26.4x | — |
| Trailing PE | 2102.4x | 25.1x+8273% | 24.1x+8610% | 95.0x+2114% |
| PEG Ratio | — | 1.72x | 1.25x | — |
| EV/EBITDA | 83.5x | 15.2x+449% | 16.7x+402% | 58.7x+42% |
| Price/FCF | 360.8x | 21.1x+1611% | 15.4x+2239% | 75.6x+377% |
| Price/Sales | 4.6x | 3.1x+46% | 3.0x+53% | 12.8x-64% |
| Dividend Yield | — | 1.87% | 4.66% | — |
CSGP trades above S&P 500 benchmarks on 5 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolCSGP Financial Health
Verdict
Adequate
CSGP pays 3.9% total shareholder yield with -0.8% operating margin. Leverage is structural for REITs — debt capacity matters more than absolute ratio.
Property Operations
Revenue, margins, and distribution coverage
Revenue (TTM)
Trailing-twelve-month sales base
$3.4B
Revenue Growth
TTM vs prior year
+21.3%
Gross Margin
Gross profit as a share of revenue
77.4%
Operating Margin
Operating income divided by revenue
-0.8%
Net Margin
Net income divided by revenue
0.7%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.06
Operating Margin
NOI-equivalent margin — key for REIT property economics
-0.8%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-0.9%
ROA
Return on assets, trailing twelve months
0.2%
Cash & Equivalents
Liquid assets on the balance sheet
$1.7B
Net Cash
Cash exceeds total debt — no net leverage
$589M
Leverage (Net Debt / FCF)
REITs carry structural leverage — higher ratios are expected
Net cash ✓
Asset-heavy model means debt/FCF above 10× is common and not a distress signal.
ROE *
Return on equity, trailing twelve months
0.3%
* Elevated by buyback-compressed equity — compare ROIC (-0.9%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
3.9%
Dividend
—
Buyback
3.9%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$575M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
424M
All figures from the trailing twelve months. REITs carry structural leverage — debt/FCF ratios above 10× are normal and do not indicate distress.
Open full ratios pageCSGP Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Margin Degradation and High Spending
CoStar is investing heavily in its Homes.com platform, with annual marketing spend exceeding $1 billion. This, along with integration costs from acquisitions like Matterport, has compressed profit margins, posing a significant risk to profitability if Homes.com does not achieve critical mass.
High Risk
Regulatory Scrutiny
The Federal Trade Commission (FTC) is increasingly scrutinizing the consolidation of real estate data, which could lead to regulatory changes. Additionally, the recent settlement by the National Association of Realtors (NAR) has introduced uncertainty into the residential real estate ecosystem, impacting CoStar's operations.
High Risk
Valuation Concerns
Analysts have raised concerns that CoStar's valuation multiples are unjustified, particularly given its high price-to-earnings (P/E) ratio. Even after recent stock price drops, this overvaluation could lead to significant financial repercussions if market sentiment shifts.
Medium
Competition
The PropTech sector is highly competitive, with CoStar facing intense pressure from rivals. This competition could further erode profit margins and market share, impacting overall financial performance.
Medium
Operational Bloat and Integration Risks
CoStar's reliance on large acquisitions for growth has led to significant integration risks and operational bloat. High selling and administrative costs are dragging down operating margins, which could hinder future profitability.
Medium
AI and Technological Disruption
Concerns exist that CoStar may lack a sufficient technology moat to defend against emerging AI companies. The rapid evolution of AI poses a competitive threat that could disrupt CoStar's market position.
Lower
Market and Economic Factors
Broader market conditions and economic factors can impact CoStar's growth prospects. Economic uncertainty may make it a riskier investment, particularly during downturns.
Lower
Investor Sentiment and Activist Pressure
Recent stock volatility has been influenced by activist investors questioning CoStar's marketing budget and demanding greater oversight. This pressure could lead to strategic shifts that may not align with long-term growth objectives.
Lower
Residential Segment Profitability
The residential segment, particularly Homes.com, has shown negative EBITDA. While improvements are expected, the profitability of this segment remains a key area of concern for investors.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why CSGP Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Dominance in Commercial Real Estate
CoStar has a proven track record of reshaping real estate data markets, from its beginnings in commercial real estate listings to its success with Apartments.com. The company's core commercial real estate businesses are highly profitable, boasting EBITDA margins of over 40%, which provides a strong financial foundation to fund new ventures.
Growth of Homes.com
CoStar's aggressive push into residential real estate via Homes.com has shown rapid progress, quickly becoming the second-largest residential real estate marketplace in the U.S. and surpassing Realtor.com in web traffic within a year.
Financial Strength and Capital Allocation
The company maintains high-margin, recurring revenue streams and robust cash flow. A $500 million stock repurchase program has been approved, signaling management's confidence in the company's long-term value and suggesting shares may be undervalued.
Strong Revenue Growth and Profitability Potential
CoStar has achieved 60 consecutive quarters of double-digit revenue growth. Recent earnings reports show solid revenue increases, with Q4 net income up 13% and EBITDA climbing 43% sequentially.
Analyst Confidence
A majority of analysts covering CoStar Group stock have a 'Buy' or 'Outperform' rating, with a consensus price target suggesting significant potential upside. Some analysts believe that AI and digital marketplaces will drive powerful long-term earnings upside for the company.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
CSGP Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$34.90
52W Range Position
2%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$33.31
+4.8% from the low
52-Week High
$97.43
-64.2% from the high
1 Month
-15.24%
3 Month
-31.56%
YTD
-46.9%
1 Year
-54.7%
3Y CAGR
-22.4%
5Y CAGR
-16.0%
10Y CAGR
+6.1%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
CSGP vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
25.8x
vs 32.0x median
-20% below peer median
Revenue Growth
+14.6%
vs -7.5% median
+295% above peer median
Net Margin
0.7%
vs -1.3% median
+158% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
CSG CSGP CoStar Group, Inc. | $14.8B | 25.8x | +14.6% | 0.7% | Buy | +77.4% |
Z Z Zillow Group, Inc. Class C | $10.5B | 19.7x | +14.1% | -1.3% | Hold | +83.7% |
MOV MOVE Movano Inc. | $816M | — | -44.6% | -3409.6% | Buy | — |
COM COMP Compass, Inc. | $4.1B | 44.4x | +57.7% | 0.2% | Buy | +96.8% |
OPE OPEN Opendoor Technologies Inc. | $5.0B | — | -13.8% | -29.7% | Hold | +24.3% |
MKT MKTW MarketWise, Inc. | $42M | — | -7.5% | 19.7% | Hold | -79.9% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
CSGP Dividend and Capital Return
CSGP returns 3.9% annually — null% through dividends and 3.9% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
3.9%
Dividend + buyback return per year
Buyback Yield
3.9%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$575M
Estimated Shares Retired
16M
Approx. Share Reduction
3.9%
Shares Outstanding
Current diluted share count from the screening snapshot
424M
At 3.9%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsCSGP Investor Questions
Common questions answered from live analyst data and company financials.
01Is CoStar Group, Inc. (CSGP) stock a buy or sell in 2026?
CoStar Group, Inc. (CSGP) is rated Buy by Wall Street analysts as of 2026. Of 25 analysts covering the stock, 19 rate it Buy or Strong Buy, 4 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $62, implying +77.4% from the current price of $35.
02What is the CSGP stock price target for 2026?
The Wall Street consensus price target for CSGP is $62 based on 25 analyst estimates. The high-end target is $84 (+140.7% from today), and the low-end target is $44 (+26.1%). The base case model target is $35.
03Is CoStar Group, Inc. (CSGP) stock overvalued in 2026?
CSGP trades at 25.8x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for CoStar Group, Inc. (CSGP) stock in 2026?
The primary risks for CSGP in 2026 are: (1) Margin Degradation and High Spending — CoStar is investing heavily in its Homes. (2) Regulatory Scrutiny — The Federal Trade Commission (FTC) is increasingly scrutinizing the consolidation of real estate data, which could lead to regulatory changes. (3) Valuation Concerns — Analysts have raised concerns that CoStar's valuation multiples are unjustified, particularly given its high price-to-earnings (P/E) ratio. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is CoStar Group, Inc.'s revenue and earnings forecast?
Analyst consensus estimates CSGP will report consensus revenue of $3.9B (+14.6% year-over-year) and EPS of $0.60 (+876.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $4.5B in revenue.
06When does CoStar Group, Inc. (CSGP) report its next earnings?
A confirmed upcoming earnings date for CSGP is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does CoStar Group, Inc. generate?
CoStar Group, Inc. (CSGP) generated $241M in free cash flow over the trailing twelve months — a free cash flow margin of 7.1%. CSGP returns capital to shareholders through and share repurchases ($575M TTM).