CoStar Group (NASDAQ:CSGP) Releases FY24 Earnings Guidance

by · The Markets Daily

CoStar Group (NASDAQ:CSGP – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.67 to $0.69 for the period, compared to the consensus estimate of $0.66. The company issued revenue guidance of $2.72 billion to $2.73 billion, compared to the consensus revenue estimate of $2.74 billion. CoStar Group also updated its FY 2024 guidance to 0.670-0.690 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on CSGP. Bank of America lowered their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods reduced their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

View Our Latest Research Report on CSGP

CoStar Group Stock Down 0.6 %

Shares of NASDAQ CSGP traded down $0.49 during midday trading on Tuesday, hitting $76.87. 2,734,226 shares of the company’s stock were exchanged, compared to its average volume of 2,251,573. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a market cap of $31.50 billion, a PE ratio of 145.97 and a beta of 0.81. The firm’s fifty day simple moving average is $76.40 and its 200-day simple moving average is $79.37.

CoStar Group (NASDAQ:CSGP – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. Research analysts predict that CoStar Group will post 0.49 EPS for the current fiscal year.

About CoStar Group

(Get Free Report)

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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