CoStar Group (NASDAQ:CSGP – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.21 to $0.23 for the period, compared to the consensus earnings per share 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.
Analyst Upgrades and Downgrades
Several research firms have commented on CSGP. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Needham & Company LLC reissued a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a report on Tuesday, September 17th. The Goldman Sachs Group dropped their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $96.00 price target on shares of CoStar Group in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $96.38.
Read Our Latest Stock Report on CoStar Group
CoStar Group Trading Down 0.6 %
CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. The business had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. 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.
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