CoStar Group (NASDAQ:CSGP) Issues Q2 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.09-0.10 for the period, compared to the consensus EPS 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 FY24 guidance to $0.58-0.62 EPS.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSGP. JMP Securities restated a market outperform rating and set a $110.00 price objective on shares of CoStar Group in a research note on Friday, April 12th. Royal Bank of Canada raised their price objective on CoStar Group from $95.00 to $109.00 and gave the company an outperform rating in a research note on Monday, March 25th. The Goldman Sachs Group lifted their target price on CoStar Group from $96.00 to $107.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. BMO Capital Markets lifted their target price on CoStar Group from $79.00 to $84.00 and gave the stock a market perform rating in a research note on Friday. Finally, BTIG Research started coverage on CoStar Group in a research note on Friday, January 19th. They set a neutral rating on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, CoStar Group has a consensus rating of Moderate Buy and a consensus price target of $100.50.

CoStar Group Trading Down 0.8 %

Shares of NASDAQ:CSGP traded down $0.69 during trading on Tuesday, reaching $84.62. 3,015,847 shares of the company traded hands, compared to its average volume of 2,147,600. The firm has a market capitalization of $34.56 billion, a price-to-earnings ratio of 92.60, a P/E/G ratio of 9.69 and a beta of 0.84. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $89.15 and its 200-day moving average is $84.56.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. As a group, analysts forecast that CoStar Group will post 0.44 EPS 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.