CoStar: SG&A Spend Isn’t Delivering Enough Growth (Downgrade) (NASDAQ:CSGP)

Core Viewpoint - CoStar Group (CSGP) has been downgraded to a 'hold' following its Q3'25 results due to concerns over its expensive valuation and execution challenges, despite initially having a strong competitive position [1] Financial Performance - The investment case for CoStar Group was based on its durable competitive moat, but recent performance raises questions about its execution and valuation [1] Market Position - Homes.com is mentioned positively, indicating potential strengths within the company's portfolio, although specific details are not provided [1]