CoStar Group (NASDAQ:CSGP) Issues Q2 Earnings Guidance

CoStar Group (NASDAQ:CSGP) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.09-0.10 for the period, compared to the consensus EPS 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 FY24 guidance to $0.58-0.62 EPS.

Analysts Set New Price Targets

CSGP has been the topic of several recent research reports. BMO Capital Markets lifted their price objective on CoStar Group from $79.00 to $84.00 and gave the company a market perform rating in a report on Friday. Bank of America lifted their price objective on CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a report on Monday, March 18th. JMP Securities reaffirmed a market outperform rating and issued a $110.00 price objective on shares of CoStar Group in a report on Friday, April 12th. Jefferies Financial Group lifted their price objective on CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $96.00 to $109.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and eleven have issued 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 $100.50.

CoStar Group Trading Down 0.8 %

CSGP traded down $0.69 during trading on Tuesday, hitting $84.62. The company’s stock had a trading volume of 3,016,050 shares, compared to its average volume of 2,161,399. The stock has a market cap of $34.56 billion, a PE ratio of 92.60, a PEG ratio of 9.69 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01. The firm’s 50 day moving average price is $89.15 and its 200-day moving average price is $84.56. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released 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 business had revenue of $640.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. On average, analysts expect that CoStar Group will post 0.44 earnings per share 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.