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

CoStar Group (NASDAQ:CSGP) updated its fourth quarter 2024 earnings guidance on Tuesday. 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.

CoStar Group Trading Down 0.6 %

CoStar Group stock traded down $0.49 during mid-day trading on Tuesday, reaching $76.87. 2,836,692 shares of the company traded hands, compared to its average volume of 2,251,573. 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 52-week low of $67.35 and a 52-week high of $100.38. The firm has a market capitalization of $31.50 billion, a price-to-earnings ratio of 145.97 and a beta of 0.81. The firm’s 50 day moving average price is $76.40 and its 200 day moving average price is $79.37.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $0.27 earnings per share. CoStar Group’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that CoStar Group will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSGP shares. Bank of America reduced their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research note 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 on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods decreased 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 note on Wednesday, July 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. Four investment 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 a consensus target price of $96.38.

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.