Core Insights - CoStar Group, Inc. (CSGP) is a leading provider of commercial real estate information and marketplace services, with a market cap of $28.8 billion [1] - The company has experienced significant underperformance compared to the broader market and the Real Estate Select Sector SPDR Fund (XLRE) over the past year [2][3] Financial Performance - In Q3, CSGP reported an adjusted EPS of $0.23, exceeding consensus estimates by 21.8%, and revenue of $833.6 million, surpassing analyst expectations of $814.4 million [4] - For the full fiscal year, CSGP anticipates adjusted EPS between $0.82 and $0.84, with revenue projected between $3.23 billion and $3.24 billion [4] - Analysts predict a 9.3% decline in CSGP's EPS to $0.49 for the current fiscal year [5] Analyst Ratings - Among 18 analysts covering CSGP, the consensus rating is a "Moderate Buy," with nine "Strong Buy" ratings, two "Moderate Buys," six "Holds," and one "Strong Sell" [5] - The analyst sentiment has improved over the past three months, with eight analysts now suggesting a "Strong Buy" [6] - Baird analyst Jeffrey Meuler maintained an "Outperform" rating on CSGP, lowering the price target to $100, indicating a potential upside of 47% from current levels [6]

Core Insights - The U.S. commercial real estate market recorded $115 billion in transactions in Q2 2025, reflecting a 3.8% increase from $110.8 billion in Q2 2024, driven by strong multifamily and office transactions [2][3] - Despite a 7.4% decrease in the number of properties transacted nationally compared to Q2 2024, the office and industrial sectors outperformed the national average on an annual basis [2] - Median price-per-square foot rose by 13.9% on an annual basis, with 13 of 15 property subtypes experiencing increases in median price-per-square foot on a quarterly basis [3] Transaction Activity - Multifamily and office transactions accounted for nearly half of all transaction volume in Q2 2025 [3] - The report provides a comprehensive overview of national commercial sale transactions across major property sectors, focusing on transaction volume, pricing, and pacing, with insights segmented by property subtype and metropolitan statistical area (MSA) [3] Data Methodology - The transaction data is sourced from Altus Group's Reonomy product, with data pulled on July 15, 2025, and transactions recorded through June 30, 2025 [5] - Estimates were made to reflect national transaction activity as not all transactions for Q2 2025 were available by the data pull date [5]