CoStar Group (NASDAQ:CSGP – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.670-0.690 for the period, compared to the consensus earnings per share estimate of 0.660. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. CoStar Group also updated its FY24 guidance to $0.67 to $0.69 EPS.
Wall Street Analyst Weigh In
CSGP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 price target on shares of CoStar Group in a report on Tuesday, September 10th. The Goldman Sachs Group dropped their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America reduced their target price 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. Finally, Robert W. Baird decreased their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.38.
Read Our Latest Stock Analysis on CSGP
CoStar Group Stock Down 0.6 %
CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The company 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%. CoStar Group’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. Equities analysts predict that CoStar Group will post 0.49 EPS 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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