CoStar (CSGP): Is the Homes.com Gamble Destroying a Great Business, or Hiding One?

CoStar Group, Inc. (NASDAQ:CSGP) owns the data that the commercial-real-estate industry runs on, a near-monopoly built over decades. Yet the stock sits near a 52-week low, and its price-to-earnings ratio looks absurd at about 160. That number is misleading. CoStar has poured billions into Homes.com, its bid to challenge Zillow, and that spending has buried […]