12:28 PM EST, 01/10/2025 (MT Newswires) -- CoStar Group ( CSGP ) could see a ramp up in 2025 bookings as it works on boosting its sales force, RBC Capital Markets said in a note emailed Friday.

RBC expects bookings on the company's Homes.com to improve in Q4 amid "early trends of sales rep productivity improvements." Meanwhile, Q4 core bookings are estimated to decline year over year, but improve from Q3 levels.

RBC said CoStar ( CSGP ) is ramping up its hiring of dedicated residential sales officers, potentially reaching 300 by the end of fiscal 2024 and up to 700 by the end of 2025. The company also expects to invest an additional $900 million in Homes.com in 2025 for marketing, tech upgrades, and the sales team.

The investment firm raised its 2025 revenue estimate for CoStar Group ( CSGP ) to $3.12 billion from $3.02 billion due to "solid" net bookings and the acquisition of Visual Lease.

RBC has a sector perform rating for CoStar ( CSGP ) with a price target of $83.

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