CoStar Group price target lowered to $90 from $100 at JMP Securities

JMP Securities analyst Nicholas Jones lowered the firm’s price target on CoStar Group to $90 from $100 and keeps an Outperform rating on the shares. CoStar delivered mixed Q3 results, with revenue finishing largely in line with the Street and adjusted EBITDA coming in below expectations, while guidance for Q4 and 2023 was also lighter than expected, the analyst tells investors in a research note. The firm does not view the Q3 results or the company’s outlook as thesis changing.