CSGP Stock Recent News

CoStar Group (CSGP) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.31 per share a year ago.

CoStar Group's (CSGP) second-quarter 2024 top line is likely to reflect a robust portfolio of marketplaces, which includes Apartments.com, LoopNet and Homes.com.

Despite the latest report showing an easing of inflation, home prices continue to rise due to a lack of supply and high interest rates. Price increases have accelerated since February after a brief slowdown late last year.

WASHINGTON--(BUSINESS WIRE)--CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the appointment of Rich Simonelli as Head of Investor Relations and Cyndi Eakin as Chief Accounting Officer. Each will report to Chris Lown, Chief Financial Officer of CoStar Group. Simonelli, who previously held a similar role at CoStar Group for nine years, will rejoin the company from national real estate brokerag.

I have started a ~3% position in CoStar at $71/share and would like to increase the position to ~5% if the stock goes down to ~$60. At current $25 Bn EV, the company is currently trading at ~20x NTM EV/EBITDA multiple. This is capex light business, so EBITDA can be considered a reasonable proxy for FCF here.

The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies. `

CoStar is seeking to disrupt commercial real estate industry by building network effects and scale with a vast database of property information. The company has a de-facto monopoly over this information, allowing it to raise prices regularly. Recent quarterly results showed a 12% revenue increase and the acquisition of Matterport highlights further opportunities in Homes.com.

The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.

A near 30% hit to shares of CoStar Group Inc (NASDAQ: CSGP) spells opportunity to buy a quality name at a discount, says Nicholas Jones – a JMP Securities analyst.  CoStar stock could climb to $110  He reiterated his “outperform” rating on the real estate data and analytics firm on Wednesday.

WASHINGTON--(BUSINESS WIRE)--CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the appointment of Christian M. Lown as Chief Financial Officer effective July 1, 2024. Lown will join CoStar Group from Fortune 500-ranked home loan giant Freddie Mac, where he serves as Executive Vice President and Chief Financial Officer until June 28, 2024. He will report to Andy Florance, Founder and Chief Execu.