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

CoStar Group (NASDAQ:CSGP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.670-0.690 for the period, compared to the consensus estimate of 0.660. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. CoStar Group also updated its FY24 guidance to $0.67 to $0.69 EPS.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America decreased their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Needham & Company LLC decreased their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group dropped their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets reduced their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.62.

CoStar Group Trading Up 1.5 %

NASDAQ CSGP opened at $73.91 on Friday. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The firm has a market cap of $30.29 billion, a PE ratio of 167.98 and a beta of 0.81. The firm’s fifty day moving average is $76.46 and its two-hundred day moving average is $79.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that CoStar Group will post 0.49 earnings per share for the current 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.