CoStar Group (NASDAQ:CSGP) Issues Q4 2024 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.210-0.230 for the period, compared to the consensus estimate of 0.240. The company issued revenue guidance of $693.0 million-$703.0 million, compared to the consensus revenue estimate of $713.9 million. CoStar Group also updated its FY 2024 guidance to 0.670-0.690 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSGP. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $96.00 to $83.00 in a research report on Wednesday. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Bank of America reduced their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.62.

CoStar Group Price Performance

Shares of CSGP traded up $1.81 during trading hours on Thursday, hitting $74.63. 2,186,713 shares of the company were exchanged, compared to its average volume of 2,312,068. The firm has a fifty day simple moving average of $76.46 and a 200-day simple moving average of $79.20. The company has a market capitalization of $30.47 billion, a PE ratio of 99.63 and a beta of 0.81. CoStar Group has a one year low of $67.35 and a one year high of $100.38. 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 (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, sell-side analysts predict that CoStar Group will post 0.49 earnings per share 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.