Analysts at RBC Capital released their outlook on CoStar Group, Inc. (NASDAQ:CSGP) ahead of the company’s upcoming Q2 earnings report on July 26, expecting a modest beat and guidance reiteration.

According to the analysts, Q2 could largely be a non-event, as investors are focused on longer-term residential strategy/investment as well as the continued Multifamily recovery, salesforce ramp, and sustainability of CoStar (Suite) growth.

CoStar growth is expected to accelerate to around 17% year-over-year in Q2, driven by upgrading customers to the full CoStar product offering and strong bookings growth. Although economic slowdown could potentially weigh on revenue growth, the analysts believe the impact will be delayed by the pricing increases and subscription-based revenue model.