CoStar Group price target raised to $100 from $90 at Needham

Needham raised the firm’s price target on CoStar Group to $100 from $90 and keeps a Buy rating on the shares. The company’s Q2 results were mixed as softer commercial transaction volumes pressured Ten-X revenue and LoopNet sales missed expectations, but this was offset by margin leverage to drive an earnings beat, while net new sales of $82 million were the second highest in the company’s history, led by 84% Y/Y growth in Apartments.com bookings, the analyst tells investors in a research note.