CoStar Group (NASDAQ:CSGP) Releases Q2 2022 Earnings Guidance

CoStar Group (NASDAQ:CSGPGet Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.200-$0.210 for the period, compared to the Thomson Reuters consensus estimate of $0.210. The company issued revenue guidance of $529 million-$534 million, compared to the consensus revenue estimate of $529.86 million.CoStar Group also updated its FY 2022 guidance to $0.980-$1.03 EPS.

A number of research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of CoStar Group from $115.00 to $70.00 and set a buy rating for the company in a research note on Wednesday, February 23rd. William Blair restated an outperform rating on shares of CoStar Group in a research report on Wednesday, February 23rd. Robert W. Baird reduced their price objective on shares of CoStar Group from $100.00 to $75.00 in a research report on Wednesday, February 23rd. StockNews.com started coverage on shares of CoStar Group in a research report on Thursday, March 31st. They set a hold rating for the company. Finally, Citigroup reduced their price target on shares of CoStar Group from $110.00 to $65.00 in a research report on Thursday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, CoStar Group presently has a consensus rating of Buy and an average price target of $78.78.

CSGP traded down $1.21 during trading on Tuesday, hitting $59.99. The stock had a trading volume of 2,669,482 shares, compared to its average volume of 2,581,721. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.78 and a current ratio of 11.77. The firm has a market capitalization of $23.70 billion, a P/E ratio of 83.76 and a beta of 0.91. The company’s 50-day moving average price is $62.55 and its 200 day moving average price is $73.32. CoStar Group has a twelve month low of $49.00 and a twelve month high of $101.05.

CoStar Group (NASDAQ:CSGPGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. CoStar Group had a net margin of 15.05% and a return on equity of 7.13%. The company had revenue of $506.79 million for the quarter, compared to analysts’ expectations of $501.24 million. During the same period in the previous year, the company posted $0.26 EPS. CoStar Group’s revenue was up 14.0% compared to the same quarter last year. As a group, equities analysts expect that CoStar Group will post 0.86 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new stake in shares of CoStar Group in the 4th quarter worth about $141,000. HB Wealth Management LLC purchased a new stake in shares of CoStar Group in the 4th quarter worth about $202,000. Cypress Capital Group purchased a new stake in shares of CoStar Group in the 4th quarter worth about $220,000. Forum Financial Management LP purchased a new stake in shares of CoStar Group in the 4th quarter worth about $228,000. Finally, Guggenheim Capital LLC boosted its position in shares of CoStar Group by 5.8% in the 4th quarter. Guggenheim Capital LLC now owns 3,695 shares of the technology company’s stock worth $292,000 after buying an additional 204 shares in the last quarter. 94.72% of the stock is currently owned by institutional investors and hedge funds.

About CoStar Group (Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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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