CoStar Group (NASDAQ:CSGP) Updates Q2 Earnings Guidance

CoStar Group (NASDAQ:CSGP) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.09-0.10 for the period, compared to the consensus earnings per share estimate of $0.09. The company issued revenue guidance of $674-679 million, compared to the consensus revenue estimate of $678.70 million. CoStar Group also updated its FY24 guidance to $0.58-0.62 EPS.

CoStar Group Stock Down 0.8 %

Shares of NASDAQ CSGP traded down $0.69 during trading on Tuesday, hitting $84.62. The stock had a trading volume of 3,016,050 shares, compared to its average volume of 2,161,399. 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 12.01 and a quick ratio of 12.01. The company has a market capitalization of $34.56 billion, a PE ratio of 92.60, a PEG ratio of 9.69 and a beta of 0.84. The firm has a fifty day moving average of $89.15 and a two-hundred day moving average of $84.56.

CoStar Group (NASDAQ:CSGP) last posted its earnings results 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. The firm had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, equities research analysts forecast that CoStar Group will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CSGP. The Goldman Sachs Group increased their price target on shares of CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Robert W. Baird increased their price target on shares of CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a research report on Monday, March 18th. Bank of America increased their price target on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research report on Monday, March 18th. Citigroup increased their price target on shares of CoStar Group from $90.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada upped their price objective on shares of CoStar Group from $95.00 to $109.00 and gave the company an outperform rating in a report on Monday, March 25th. Four 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, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $100.50.

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.