CSGP - Embedded Expectations Analysis - 2020 03 12
CoStar Group, Inc. (CSGP:USA) currently trades well above corporate averages relative to UAFRS-based (Uniform) Earnings, with a 74.1x Uniform P/E. At these levels, the market has bullish expectations for the firm, and management is excited about their search tools, and confident about their growth and Apartments.comSpecifically, management generated an excitement market when saying they are producing the most powerful tools the industry has ever seen. In addition, they are confident they had 15% year-over-year growth, had net sales growth of $57.5mn per quarter year-to-date, and that Apartments.com reached an all-time high in unique visitors. Moreover, they are confident they have a good sense of effective keywords and solid neighborhoods for their sites, Loopnet represents 75% of their revenue in the commercial property and land sector, and that investors are currently favoring US multifamily asset investments
CoStar Group provides information, analytics and online marketplace services to the commercial real estate and related business community through its database of commercial real estate information covering the U.S., the U.K., and parts of Canada, Spain, Germany and France. The company provides online marketplaces for commercial real estate, apartment rentals, lands for sale and businesses for sale. The company operates within two operating segments, North America and International, and its services are distributed to its clients under subscription-based license agreements that renew automatically, a majority of which have a term of one year.
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