CoStar Group resumed with an Outperform at JMP Securities

JMP Securities analyst Nicholas Jones resumed coverage of CoStar Group with an Outperform rating and $100 price target. As the dominant information and analytics platform within commercial real estate, CoStar is well positioned to continue growing its Multifamily and Residential business lines as it can subsidize aggressive investment with strong profitability and free cash flow from its growing Information & Analytics segment, the analyst tells investors in a research note. JMP believes the margin profile of the business, particularly as its higher-margin solutions are adopted internationally, remains compelling.