- CoStar’s 1Q Revenue exceeded estimates, with a revenue of $656.4 million, which is a 12% increase year over year (y/y).
- Adjusted Earnings Per Share (EPS) dropped to 10c from 29c y/y.
- For the second quarter, the revenue forecast is set between $674 million and $679 million, in alignment with the previous estimate of $678.7 million.
- CoStar’s expected adjusted EPS for the second quarter is 9.0c to 10c.
- The company projects an adjusted EPS of 58c to 62c for the entire year.
- Revenue growth for the second quarter of 2024 is expected to be about 12%.
- Adjusted EBITDA is expected to be within the range of $5 million to $10 million for the second quarter of 2024.
- The excellent results in the first quarter of 2024 are attributed to the revenue, sales, and marketplace traffic, primarily due to the monetization of Homes.com launched in February of the year.
- According to current standings, the company has received 13 buys, 4 holds, and 0 sells.
A look at Costar Group Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 5 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
CoStar Group Inc. is well-positioned for long-term growth, supported by strong ratings in Growth and Resilience according to Smartkarma Smart Scores. With a score of 4 in Growth, the company shows promising potential for expansion and development in the commercial real estate industry. Additionally, a top score of 5 in Resilience indicates the company’s ability to weather economic challenges and maintain stability over time. While Value and Dividend scores are moderate, the high marks in Growth and Resilience point to a positive outlook for CoStar Group’s future prospects.
CoStar Group Inc., a provider of building-specific data to the commercial real estate sector in the United States, showcases a database that intricately outlines office and industrial spaces. The company’s database features digitized images and floor plans of individual commercial buildings within its target markets. Backed by strong ratings in Growth and Resilience from Smartkarma Smart Scores, CoStar Group is poised for long-term success in the competitive commercial real estate industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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