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StocksUpdated•Originally published 29 April 2026•Updated 29 April 2026•

1 min read

Citizens slashes CoStar Group price target on Homes.com investment concerns

Key Facts

1Citizens lowered its price target for CoStar Group shares from $73.00 to $44.00 while maintaining a Market Outperform rating.

2The firm anticipates CoStar will reduce its investment in Homes.com to meet its 2028 and 2030 financial targets.

While Citizens recently lowered its price target for CoStar Group (CSGP) to $44.00, the company's Q1 2026 earnings report showcased robust growth that exceeded expectations. CoStar reported its 60th consecutive quarter of double-digit revenue growth, with revenue rising 23% to $897 million. A key driver was the Homes.com unit, which saw revenue surge 58% alongside a 205% increase in agent subscribers, potentially alleviating concerns regarding its investment scale. Additionally, the CEO confirmed that activist investor Third Point has exited its position, removing what he described as a significant distraction. The company continues to navigate its long-term financial targets for 2028 while maintaining strong momentum in the real estate technology sector.

about 1 month ago

Version History

Version 1about 1 month ago

What changed: Updated the story to include strong Q1 2026 earnings, significant growth in the Homes.com unit, and the confirmed exit of activist investor Third Point.