Shares of CoStar Group, Inc., (NASDAQ:CSGP) a real estate data and marketing services company, fell in the first quarter as high-growth, high-multiple technology stocks declined. The company reported financial results that were ahead of Street expectations, particularly on margin expansion. Bookings growth was strong. We believe that CoStar has potential to generate accelerating organic revenue growth and significant margin expansion as it leverages the multifamily marketing investments it has made over the last 18 months. (Neal Rosenberg)
From Baron Partners Fund first quarter 2016 commentary.
