CoStar Group price target raised to $90 from $80 at Needham

Needham analyst Mayank Tandon raised the firm’s price target on CoStar Group to $90 from $80 and keeps a Buy rating on the shares. The company’s Q1 results topped expectations thanks to strength in the core business, leaner marketing spend, and higher interest income earned on cash balances, the analyst tells investors in a research note. Needham adds that following the solid performance, it is positive on the shares given the strong demand, user traffic trends, improving sales productivity, and "impeccable execution" in an uncertain economic environment.