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

CoStar Group (NASDAQ:CSGP - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.210-0.230 for the period, compared to the consensus EPS 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

CSGP has been the subject of several recent analyst reports. Bank of America dropped their price objective on CoStar Group from $111.00 to $89.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, July 17th. Needham & Company LLC reissued a "buy" rating and set a $107.00 price target on shares of CoStar Group in a report on Tuesday, September 17th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $96.00 price objective on shares of CoStar Group in a research note on Tuesday, September 10th. Finally, StockNews.com raised shares of CoStar Group from a "sell" rating to a "hold" rating in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and a consensus price target of $96.38.

CoStar Group Trading Down 0.6 %

Shares of NASDAQ CSGP traded down $0.49 during midday trading on Tuesday, hitting $76.87. The stock had a trading volume of 2,880,389 shares, compared to its average volume of 2,252,289. 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 fifty-two week low of $67.35 and a fifty-two week high of $100.38. The firm has a market cap of $31.50 billion, a P/E ratio of 145.04 and a beta of 0.81. The company's 50-day simple moving average is $76.47 and its 200 day simple moving average is $79.24.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. During the same period last year, the company earned $0.27 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. Research analysts anticipate 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.