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 Q2 guidance to $0.09-0.10 EPS.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSGP. BTIG Research began coverage on CoStar Group in a report on Friday, January 19th. They issued a neutral rating for the company. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. BMO Capital Markets increased their price objective on CoStar Group from $79.00 to $84.00 and gave the stock a market perform rating in a report on Friday. Citigroup upped their target price on CoStar Group from $90.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Finally, Needham & Company LLC cut their target price on CoStar Group from $105.00 to $90.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group presently has an average rating of Moderate Buy and a consensus target price of $100.50.

CoStar Group Stock Down 0.8 %

CoStar Group stock traded down $0.69 during mid-day trading on Tuesday, hitting $84.62. 3,016,050 shares of the company’s stock were exchanged, compared to its average volume of 2,161,399. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $34.56 billion, a P/E ratio of 92.60, a P/E/G ratio of 9.69 and a beta of 0.84. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38. The stock has a 50 day moving average of $89.15 and a two-hundred day moving average of $84.56.

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