CoStar Shares Fall 13.3% After Results and Vexcel Deal
CoStar Group shares fell 13.3% in afternoon trading after reporting record third-quarter profitability and agreeing to acquire Vexcel for $730 million. Management said inside-sales attrition left net new bookings short of its target.
What happened? Shares of real estate data provider CoStar Group NASDAQ:CSGP fell 13.3% in the afternoon session after the company reported record third-quarter profitability and agreed to acquire Vexcel for $730 million, while management said inside-sales attrition left net new bookings short of it…