CoStar Group (NASDAQ:CSGP) Releases FY24 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.58-0.62 for the period, compared to the consensus 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 FY 2024 guidance to 0.580-0.620 EPS.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price target on shares of CoStar Group from $90.00 to $107.00 and gave the stock a buy rating in a research report on Wednesday. Bank of America lifted their price target on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. BMO Capital Markets boosted their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the company a market perform rating in a report on Thursday. Stephens reiterated an overweight rating and issued a $105.00 price target on shares of CoStar Group in a research note on Wednesday. Finally, BTIG Research initiated coverage on CoStar Group in a research note on Friday, January 19th. They issued a neutral rating for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $102.46.

CoStar Group Trading Down 1.8 %

Shares of NASDAQ:CSGP traded down $1.61 during midday trading on Thursday, hitting $90.34. 2,776,661 shares of the stock traded hands, compared to its average volume of 2,201,521. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The stock has a market capitalization of $36.90 billion, a PE ratio of 123.75, a P/E/G ratio of 9.73 and a beta of 0.84. The business’s 50 day moving average is $89.55 and its two-hundred day moving average is $84.68. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. The firm had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts forecast that CoStar Group will post 0.44 earnings per share 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.