CoStar Group (NASDAQ:CSGP) Releases FY 2024 Earnings Guidance

CoStar Group (NASDAQ:CSGP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.580-0.620 for the period, compared to the consensus estimate of 0.600. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. CoStar Group also updated its FY24 guidance to $0.58-0.62 EPS.

CoStar Group Stock Down 1.8 %

Shares of NASDAQ CSGP traded down $1.61 during mid-day 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 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 stock has a market cap of $36.90 billion, a P/E ratio of 123.75, a PEG ratio of 9.73 and a beta of 0.84. The firm has a 50 day simple moving average of $89.55 and a two-hundred day simple moving average of $84.68.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same period last year, the firm posted $0.35 EPS. CoStar Group’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts predict that CoStar Group will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CSGP. The Goldman Sachs Group raised their target price on shares of CoStar Group from $96.00 to $107.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. Jefferies Financial Group lifted their price target on shares of CoStar Group from $85.00 to $95.00 and gave the stock a hold rating in a report on Friday, April 12th. BMO Capital Markets lifted their price target on shares of CoStar Group from $84.00 to $88.00 and gave the stock a market perform rating in a report on Thursday. William Blair reiterated an outperform rating on shares of CoStar Group in a report on Wednesday. Finally, BTIG Research started coverage on shares of CoStar Group in a report on Friday, January 19th. They set a neutral rating for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $102.46.

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.