CoStar Group is trading 4.9% down today at $28.38, giving back a portion of its post-earnings gains following the announcement of its CFO's departure and a subsequent analyst downgrade.
- Baird downgraded the stock, citing reduced confidence in the near-term outlook due to the sudden management change and disappointing net bookings.
- The downward pressure comes despite strong Q2 results and the company's residential segment reaching profitability for the first time.