CoStar Group (NASDAQ:CSGP) Releases Q2 Earnings Guidance

CoStar Group (NASDAQ:CSGP) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.09-0.10 for the period, compared to the consensus estimate of $0.09. The company issued revenue guidance of $674-679 million, compared to the consensus revenue estimate of $678.70 million. CoStar Group also updated its FY 2024 guidance to 0.580-0.620 EPS.

Analyst Ratings Changes

Several research analysts have commented on the company. Jefferies Financial Group lifted their price target on CoStar Group from $85.00 to $95.00 and gave the stock a hold rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods lifted their price target on CoStar Group from $96.00 to $109.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. BMO Capital Markets lifted their price target on CoStar Group from $79.00 to $84.00 and gave the stock a market perform rating in a research report on Friday, April 19th. Needham & Company LLC lifted their price target on CoStar Group from $90.00 to $107.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Stephens restated an overweight rating and set a $105.00 price objective on shares of CoStar Group in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $102.15.

CoStar Group Price Performance

CoStar Group stock traded up $6.31 on Wednesday, reaching $90.93. The company’s stock had a trading volume of 2,808,109 shares, compared to its average volume of 2,168,185. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The company has a market cap of $37.14 billion, a price-to-earnings ratio of 98.21, a PEG ratio of 9.81 and a beta of 0.84. The business’s fifty day moving average price is $89.21 and its 200 day moving average price is $84.59. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities analysts expect that CoStar Group will post 0.44 earnings per share for the current fiscal year.

CoStar Group Company Profile

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.