CoStar Group (NASDAQ:CSGP – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.58-0.62 for the period, compared to the consensus estimate of $0.60. The company issued revenue guidance of $2.76-2.77 billion, compared to the consensus revenue estimate of $2.77 billion. CoStar Group also updated its FY 2024 guidance to 0.580-0.620 EPS.
Analysts Set New Price Targets
A number of research firms have commented on CSGP. Robert W. Baird upped their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a research note on Monday, March 18th. William Blair reiterated an outperform rating on shares of CoStar Group in a report on Wednesday. Jefferies Financial Group upped their target price on CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a report on Friday, April 12th. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets increased their price objective on CoStar Group from $84.00 to $88.00 and gave the stock a market perform rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $102.46.
Read Our Latest Stock Analysis on CSGP
CoStar Group Trading Down 1.8 %
CoStar Group (NASDAQ:CSGP – Get Free Report) last released its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, research analysts anticipate that CoStar Group will post 0.44 EPS for the current fiscal 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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