CoStar Group (NASDAQ:CSGP – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.580-0.620 for the period, compared to the consensus estimate of 0.600. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. CoStar Group also updated its FY24 guidance to $0.58-0.62 EPS.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Stephens reiterated an overweight rating and issued a $105.00 price objective on shares of CoStar Group in a report on Wednesday. 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. William Blair reissued an outperform rating on shares of CoStar Group in a research report on Wednesday. Royal Bank of Canada increased their target price on CoStar Group from $95.00 to $109.00 and gave the stock an outperform rating in a research report on Monday, March 25th. Finally, Needham & Company LLC increased their target price on CoStar Group from $90.00 to $107.00 and gave the stock a buy rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have issued 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.
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CoStar Group Trading Down 1.8 %
CoStar Group (NASDAQ:CSGP – Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.97% and a net margin of 11.64%. The firm had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CoStar Group will post 0.44 EPS 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.
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