CoStar Group (NASDAQ:CSGP) Updates Q4 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.21 to $0.23 for the period, compared to the consensus estimate of $0.24. The company issued revenue guidance of $693 million to $703 million, compared to the consensus revenue estimate of $713.34 million. CoStar Group also updated its FY 2024 guidance to 0.670-0.690 EPS.

Analysts Set New Price Targets

CSGP has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Citigroup reduced their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $92.62.

CoStar Group Trading Up 1.5 %

Shares of CSGP stock opened at $73.91 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The stock has a fifty day moving average of $76.46 and a two-hundred day moving average of $79.20. The firm has a market capitalization of $30.29 billion, a PE ratio of 167.98 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, research analysts expect that CoStar Group will post 0.49 EPS 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.