CoStar Group (NASDAQ:CSGP) Releases Q4 2024 Earnings Guidance

CoStar Group (NASDAQ:CSGP) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.210-0.230 for the period, compared to the consensus earnings per share estimate of 0.240. The company issued revenue guidance of $693.0 million-$703.0 million, compared to the consensus revenue estimate of $713.9 million. CoStar Group also updated its FY 2024 guidance to 0.670-0.690 EPS.

CoStar Group Trading Down 0.6 %

Shares of CoStar Group stock traded down $0.49 during mid-day trading on Tuesday, hitting $76.87. The stock had a trading volume of 2,880,341 shares, compared to its average volume of 2,252,289. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The firm has a market cap of $31.50 billion, a P/E ratio of 145.97 and a beta of 0.81. The firm has a 50-day moving average of $76.40 and a two-hundred day moving average of $79.37. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Sell-side analysts forecast that CoStar Group will post 0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Bank of America lowered their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a report on Tuesday, September 17th. Royal Bank of Canada restated an “outperform” rating and set a $96.00 price target on shares of CoStar Group in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. lifted their price objective on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Four investment 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 has an average rating of “Moderate Buy” and an average price target of $96.38.

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.