CoStar Group (NASDAQ:CSGP) Issues Q4 Earnings Guidance

CoStar Group (NASDAQ:CSGP) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.21 to $0.23 for the period, compared to the consensus EPS 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 FY24 guidance to $0.67 to $0.69 EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on CSGP. JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research note on Tuesday, September 17th. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Keefe, Bruyette & Woods dropped their price target 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. Finally, Bank of America dropped their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Trading Down 0.6 %

Shares of NASDAQ CSGP traded down $0.46 during midday trading on Tuesday, reaching $76.90. 2,123,645 shares of the stock were exchanged, compared to its average volume of 2,248,580. The business has a 50-day simple moving average of $76.40 and a two-hundred day simple moving average of $79.37. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 145.97 and a beta of 0.81. CoStar Group has a 12 month low of $67.35 and a 12 month high of $100.38. 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 (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same period last year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that CoStar Group will post 0.49 EPS for the current 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.