CoStar Group, Inc. (CSGP) shares fell 2.90 percent, dropping $1.95 to $65.25 on Wednesday, despite the company announcing an expanded long-term growth strategy and a new $1.5 billion share repurchase authorization.
CoStar also issued its 2026 outlook, forecasting revenue of $3.78 billion to $3.82 billion, net income of $175 million to $215 million, and adjusted EBITDA of $740 million to $800 million, which would mark the highest adjusted EBITDA in the company's history.
Shares were trading at $65.25, down from a previous close of $67.20 on the Nasdaq. The stock opened at $68.28 and moved between $61.82 and $68.98 during the session. Trading volume reached about 7.18 million shares, above the average volume of roughly 4.04 million shares.
CoStar Group has traded in a 52-week range of $61.82 to $97.43.
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