CoStar Group (NASDAQ:CSGP) Issues Q2 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its second quarter earnings guidance on Tuesday. 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 FY 2024 guidance to 0.580-0.620 EPS.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BTIG Research began coverage on CoStar Group in a research report on Friday, January 19th. They set a neutral rating on the stock. Keefe, Bruyette & Woods increased their target price on CoStar Group from $96.00 to $109.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Citigroup increased their target price on CoStar Group from $90.00 to $97.00 and gave the company a buy rating in a report on Wednesday, February 7th. Needham & Company LLC increased their target price on CoStar Group from $90.00 to $107.00 and gave the company a buy rating in a report on Wednesday. Finally, The Goldman Sachs Group increased their target price on CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of Moderate Buy and an average price target of $102.46.

CoStar Group Trading Down 1.8 %

NASDAQ CSGP traded down $1.61 during mid-day trading on Thursday, reaching $90.34. 2,776,661 shares of the stock were exchanged, compared to its average volume of 2,201,521. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38. The business’s fifty day simple moving average is $89.55 and its 200 day simple moving average is $84.68. The stock has a market capitalization of $36.90 billion, a PE ratio of 123.75, a PEG ratio of 9.73 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. CoStar Group’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.35 EPS. On average, research analysts anticipate that CoStar Group will post 0.44 earnings per share for the current fiscal 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.