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CoStar Group Inc - CSGP STOCK NEWS

Welcome to our dedicated page for CoStar Group news (Ticker: CSGP), a resource for investors and traders seeking the latest updates and insights on CoStar Group stock.

CoStar Group Inc. (NASDAQ: CSGP) is the premier provider of commercial real estate information, analytics, and online marketplaces. Established in 1987, CoStar has built and maintained the most comprehensive database of commercial real estate data through extensive and continuous research. This effort supplies clients with unparalleled insights into property values, market conditions, and current availabilities.

CoStar's diverse suite of online services includes CoStar Suite, which offers in-depth analytical information on over 5 million commercial real estate properties across various sectors such as office, retail, hotels, multifamily, healthcare, industrial, self-storage, and data centers. Another prominent platform, LoopNet, is the most trafficked commercial real estate marketplace online, boasting over 9.8 million registered members.

The company also oversees leading apartment resource sites like Apartments.com, ApartmentFinder.com, and ApartmentHomeLiving.com. These platforms serve renters seeking quality apartment homes and provide a robust marketing channel for property managers and owners. As of June 2015, CoStar's websites collectively attract more than 23.6 million unique monthly visitors.

Headquartered in Washington, DC, CoStar Group has significantly expanded its global footprint, including recent growth into markets in Canada, the United Kingdom, Spain, and France. With over 80% of its revenue derived from subscription-based services, CoStar continues to lead the industry through innovation and a commitment to providing actionable real estate intelligence.

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CoStar Group, Inc. (NASDAQ: CSGP) CEO Andrew C. Florance has been named one of Washingtonian Magazine’s 2022 Tech Titans for the second consecutive year. He is recognized for his leadership during a remarkable year, ending 2021 with $2 billion in revenue despite the global pandemic. The Tech Titans list highlights influential figures in Washington, including entrepreneurs and cybersecurity experts, underscoring Florance's significant role in the company's success in the online real estate marketplace sector.

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CoStar Group, Inc. (NASDAQ: CSGP) recently released data analyzing recovery trends in the commercial real estate retail market post-pandemic. The research highlights the emergence of 'Live-Work-Play' office nodes, particularly in Hudson Waterfront and NoMa in Washington D.C., which may enhance revenue opportunities for urban retailers. Notably, Hudson Waterfront's retail rent growth surpassed the broader NYC retail market by 90 basis points since Q4 2019. Furthermore, NoMa's retail vacancy rate has decreased by 4.3% compared to D.C.'s overall average, suggesting improved performance in these specific markets.

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CoStar Group (NASDAQ: CSGP) reported a year-over-year multifamily rent growth of 10.6% for April 2022, down from 11.4% in March. The report highlighted a deceleration in rent growth, especially in previously high-performing markets, with Atlanta and Orange County seeing significant drops. Despite this, month-over-month growth showed a slight increase of 0.8%, with Charlotte leading. The trend reflects a cooling rental market, particularly impacting areas like Phoenix, which fell from 22% to 15.6% year-over-year.

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CoStar Group has announced the winners of round two in its Battle of the Bids contest, with contestants claiming $500,000 in total cash prizes. Notable winners include Derrick Vartanian from Keller Williams, who earned $100,000. The contest features over 1,000 contestants and a chance to win a $1 million grand prize. Round three begins on May 9, 2022. Participants predict auction prices to accumulate points for prizes ranging from $100 to $100,000.

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CoStar Group (NASDAQ: CSGP) has announced the acquisition of a 5-story office building in Richmond, VA for $20 million. This 117,448 SF property, previously occupied by SunTrust, aims to support the company's ongoing growth and will enhance employee cohesion with its proximity to existing facilities. With over 1,200 employees in Richmond, CoStar plans to become the region's largest technology company and private employer, reinforcing its commitment to local job creation. The move highlights CoStar's intent to expand operations significantly in the area.

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CoStar Group, Inc. (NASDAQ: CSGP) announced the hiring of Robert Stassen as the new Head of Analytics for Europe. Stassen, with nearly 30 years of experience in the commercial real estate sector, will lead the European Analytics team. His responsibilities include ensuring that CoStar's data reflects market trends and enhancing client relationships. His prior role was as Head of Capital Markets Research for JLL in the EMEA region. The appointment is part of CoStar’s strategy to strengthen its analytics capabilities in Europe.

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CoStar Group, Inc. (NASDAQ: CSGP) announced that its top online commercial real estate marketplace, LoopNet, achieved record traffic in Q1 2022. The site reported a significant year-over-year increase of 56% in direct traffic. LoopNet is recognized as a leader in the industry with over 11 million unique visitors per month, totaling 31.4 million for the quarter. The platform serves a variety of commercial property categories and is a vital resource for tenants and investors, emphasizing the growing trend of online searches for real estate.

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CoStar Group, Inc. (NASDAQ: CSGP) reported a strong performance for Q1 2022, achieving $516 million in revenue, up 13% year-over-year. Net income rose 20% to $89 million, with EBITDA increasing 17% to $158 million. The company experienced a 31% increase in net new bookings, reaching $68 million. Sales for Apartments.com surged 36% sequentially. CoStar is optimistic, raising its revenue guidance for 2022 to $2.15-2.17 billion and adjusted EBITDA guidance to $585-615 million.

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CoStar Group (NASDAQ: CSGP) has announced the appointment of David Mele as the new President of LoopNet, a leading marketplace for commercial real estate. Mele, who joined CoStar in May 2021 as part of the Homes.com acquisition, brings extensive experience in online marketplace growth. He is tasked with defining business strategy and expanding LoopNet’s international footprint. Andrew Florance, CEO of CoStar, expressed confidence in Mele’s ability to lead during this period of substantial growth for LoopNet.

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Apartments.com, a brand of CoStar Group (NASDAQ: CSGP), has launched a new marketing campaign featuring Jeff Goldblum as its spokesperson. This campaign aims to address evolving renter needs post-COVID-19, based on a survey of over 25,000 prospective renters. Key findings reveal that more than 50% of renters plan to move in the next year, influenced by desires for more space and upgraded living conditions. The campaign will leverage streaming and digital platforms to connect with renters through custom content and innovative advertising.

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FAQ

What is the current stock price of CoStar Group (CSGP)?

The current stock price of CoStar Group (CSGP) is $71.44 as of December 20, 2024.

What is the market cap of CoStar Group (CSGP)?

The market cap of CoStar Group (CSGP) is approximately 28.6B.

What is CoStar Group Inc.?

CoStar Group Inc. is a leading provider of commercial real estate information, analytics, and online marketplaces.

When was CoStar Group founded?

CoStar Group was founded in 1987.

What services does CoStar Group offer?

CoStar Group offers extensive real estate data, analytics, and online marketplaces through platforms like CoStar Suite, LoopNet, Apartments.com, and more.

How many registered members does LoopNet have?

LoopNet has over 9.8 million registered members.

Where is CoStar Group headquartered?

CoStar Group is headquartered in Washington, DC.

Which sectors does CoStar Suite cover?

CoStar Suite covers sectors such as office, retail, hotels, multifamily, healthcare, industrial, self-storage, and data centers.

What are some key online apartment resources managed by CoStar Group?

Key online apartment resources managed by CoStar Group include Apartments.com, ApartmentFinder.com, and ApartmentHomeLiving.com.

What percentage of CoStar Group's revenue is subscription-based?

Over 80% of CoStar Group's revenue is subscription-based.

In which countries has CoStar Group recently expanded?

CoStar Group has recently expanded its presence in Canada, the United Kingdom, Spain, and France.

How many unique monthly visitors do CoStar's websites attract?

CoStar's websites attract over 23.6 million unique monthly visitors as of June 2015.

CoStar Group Inc

Nasdaq:CSGP

CSGP Rankings

CSGP Stock Data

28.63B
405.29M
1.14%
101.64%
2.7%
Real Estate Services
Services-business Services, Nec
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United States of America
WASHINGTON