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

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

A number of analysts have issued reports on CSGP shares. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $96.00 to $83.00 in a research note on Wednesday. Citigroup dropped their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group reduced their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average target price of $92.62.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $74.00 on Friday. The firm has a market capitalization of $30.33 billion, a PE ratio of 167.98 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The business’s fifty day moving average price is $76.46 and its 200 day moving average price is $79.20. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38.

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