CoStar Group (NASDAQ:CSGP) Issues Q2 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its second quarter earnings guidance on Tuesday. 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.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of CoStar Group from $95.00 to $109.00 and gave the stock an outperform rating in a research note on Monday, March 25th. Bank of America upped their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a report on Monday, March 18th. William Blair reissued an outperform rating on shares of CoStar Group in a research note on Wednesday. BMO Capital Markets increased their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the stock a market perform rating in a research note on Thursday. Finally, Stephens restated an overweight rating and set a $105.00 target price on shares of CoStar Group in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CoStar Group has an average rating of Moderate Buy and a consensus target price of $102.46.

CoStar Group Trading Up 2.8 %

Shares of CSGP stock traded up $2.53 on Friday, hitting $92.87. 477,847 shares of the stock traded hands, compared to its average volume of 2,179,712. The firm’s 50-day moving average price is $89.55 and its two-hundred day moving average price is $84.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 9.09. The stock has a market capitalization of $37.93 billion, a PE ratio of 123.75, a PEG ratio of 10.57 and a beta of 0.84. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The business 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 earned $0.35 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, 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.