CoStar Group (NASDAQ:CSGP) Issues Q2 2024 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.090-0.100 for the period, compared to the consensus EPS estimate of 0.090. The company issued revenue guidance of $674.0 million-$679.0 million, compared to the consensus revenue estimate of $682.2 million. 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. Bank of America increased their price target on shares of CoStar Group from $97.00 to $111.00 and gave the stock a buy rating in a report on Monday, March 18th. Robert W. Baird increased their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a report on Monday, March 18th. The Goldman Sachs Group increased their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a report on Wednesday, March 20th. BTIG Research started coverage on shares of CoStar Group in a report on Friday, January 19th. They set a neutral rating on the stock. Finally, Citigroup raised their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $100.50.

CoStar Group Trading Down 0.8 %

CoStar Group stock traded down $0.69 during midday trading on Tuesday, hitting $84.62. 3,026,050 shares of the stock were exchanged, compared to its average volume of 2,161,467. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The stock has a market capitalization of $34.56 billion, a price-to-earnings ratio of 92.60, a PEG ratio of 9.69 and a beta of 0.84. The stock’s 50-day simple moving average is $89.15 and its 200 day simple moving average is $84.56. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13.

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