CoStar Group (NASDAQ:CSGP) Updates Q2 2024 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.090-0.100 for the period, compared to the consensus earnings per share estimate of 0.090. The company issued revenue guidance of $674.0 million-$679.0 million, compared to the consensus revenue estimate of $682.2 million. CoStar Group also updated its FY 2024 guidance to 0.580-0.620 EPS.

Analysts Set New Price Targets

A number of brokerages have recently commented on CSGP. Stephens reissued an overweight rating and issued a $105.00 price target on shares of CoStar Group in a report on Wednesday. Jefferies Financial Group increased their target price on shares of CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a report on Friday, April 12th. Citigroup increased their target price on shares of CoStar Group from $90.00 to $97.00 and gave the company a buy rating in a report on Wednesday, February 7th. Royal Bank of Canada increased their target price on shares of CoStar Group from $95.00 to $109.00 and gave the company an outperform rating in a report on Monday, March 25th. Finally, The Goldman Sachs Group increased their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $102.46.

CoStar Group Trading Down 1.8 %

Shares of NASDAQ:CSGP traded down $1.61 on Thursday, hitting $90.34. The company had a trading volume of 2,776,661 shares, compared to its average volume of 2,201,521. The firm’s 50-day simple moving average is $89.55 and its two-hundred day simple moving average is $84.68. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 123.75, a P/E/G ratio of 9.73 and a beta of 0.84.

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. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. The firm had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. During the same period last year, the company posted $0.35 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities 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.