CoStar Group (NASDAQ:CSGP) Updates Q2 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.09-0.10 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSGP. BTIG Research began coverage on CoStar Group in a research report on Friday, January 19th. They issued a neutral rating on the stock. Citigroup lifted their target price on CoStar Group from $90.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, February 7th. William Blair reissued an outperform rating on shares of CoStar Group in a research note on Wednesday. Bank of America lifted their price target on CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. Finally, Needham & Company LLC lifted their price target on CoStar Group from $90.00 to $107.00 and gave the company a buy rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, CoStar Group has an average rating of Moderate Buy and an average target price of $102.46.

CoStar Group Trading Down 1.8 %

Shares of CoStar Group stock traded down $1.61 during midday trading on Thursday, reaching $90.34. The company had a trading volume of 2,776,661 shares, compared to its average volume of 2,201,521. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01. The stock has a fifty day moving average price of $89.55 and a 200 day moving average price of $84.68. The firm has a market cap of $36.90 billion, a PE ratio of 123.75, a P/E/G ratio of 9.73 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (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 for the quarter, compared to analyst estimates of $634.27 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that CoStar Group will post 0.44 earnings per share for the current 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.