CoStar Group (NASDAQ:CSGP) Issues FY24 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $0.58-0.62 for the period, compared to the consensus EPS estimate of $0.60. The company issued revenue guidance of $2.76-2.77 billion, compared to the consensus revenue estimate of $2.77 billion. CoStar Group also updated its Q2 guidance to $0.09-0.10 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CSGP. Robert W. Baird upped their target price on CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a research note on Monday, March 18th. JMP Securities reissued a market outperform rating and set a $110.00 price target on shares of CoStar Group in a research note on Friday, April 12th. BMO Capital Markets increased their price target on CoStar Group from $79.00 to $84.00 and gave the stock a market perform rating in a research note on Friday. Royal Bank of Canada increased their price target on CoStar Group from $95.00 to $109.00 and gave the stock an outperform rating in a research note on Monday, March 25th. Finally, BTIG Research initiated coverage on CoStar Group in a research note on Friday, January 19th. They set a neutral rating on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $100.50.

CoStar Group Trading Down 0.8 %

Shares of CSGP stock traded down $0.69 on Tuesday, reaching $84.62. 3,015,847 shares of the stock were exchanged, compared to its average volume of 2,147,600. The stock has a market cap of $34.56 billion, a P/E ratio of 92.60, a price-to-earnings-growth ratio of 9.69 and a beta of 0.84. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $89.15 and a two-hundred day moving average of $84.56. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The firm had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts anticipate that CoStar Group will post 0.44 EPS for the current year.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.