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Basal Wit

Vice President and Equity Research Analyst at Deutsche Bank

Basal Wit is a Vice President and Equity Research Analyst at Deutsche Bank, specializing in European technology, media, and telecom sectors. He covers major companies including SAP, Ericsson, Nokia, and ASML, and is noted for delivering thorough analysis that has contributed to sector outperformance; on platforms such as TipRanks, he has achieved a success rate of approximately 67% with average returns exceeding 8% per recommendation. Wit began his career at Barclays as a research associate in 2013 before joining Deutsche Bank in 2017, advancing to his current role in 2022. He is registered with FINRA and holds Series 7 and Series 63 licenses, further complemented by a CFA designation and multiple internal awards for research excellence.

Basal Wit's questions to COSTAR GROUP (CSGP) leadership

Question · Q3 2025

Basal Wit from Deutsche Bank asked about the expected timeframe and necessary conditions for CoStar Group's residential business to achieve 40% profitability or EBITDA margins.

Answer

CEO Andy Florance explained that the residential business, encompassing Domain, OnTheMarket, Homes.com, and Apartments.com, follows a uniform model focused on marketing real estate. He referenced global precedents (Rightmove, REA Group) with 50-75% margins, indicating that achieving 40% is a goal through "continued blocking and tackling over the next number of years," noting positive EBITDA margin progression.

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