CSGP Stock Recent News

WASHINGTON--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, will announce financial results for the fourth quarter and full year 2023 following the market close on Tuesday, February 20, 2024. Management will conduct a conference call to discuss the fourth quarter and full year results, as well as the Company's outlook at 5:00 PM EST that same day. A live audi.

During the bull market of 2023, the “Magnificent Seven” stocks have dominated financial media coverage, and rightly so. There is no question that this group of companies has been performing very well in their core businesses and analysts expect the good times to continue.

Ryan Belanger, Claro Advisors founder, joins ‘Power Lunch' to discuss three stocks: Deutsche Bank, Boeing and Costar Group.

CoStar Group's (CSGP) third-quarter 2023 results reflect solid top-line growth, led by Apartments.com and Multifamily business segments.

Shares of CoStar Group Inc. CSGP, -7.50% tumbled 7.7% toward a six-month low in morning trading Wednesday, after the real estate marketplace provider came up short on third-quarter revenue and trimmed its full-year outlook, amid “one of the worst property markets in decades.” The stock was currently the fourth-worst performer in the S&P 500 SPX, -1.07% on the day.

CoStar Group, Inc. (NASDAQ:CSGP ) Q3 2023 Earnings Conference Call October 24, 2023 5:00 PM ET Company Participants Cyndi Eakin - Head of Investor Relations Andy Florance - Founder and Chief Executive Officer Scott Wheeler - Chief Financial Officer Conference Call Participants George Tong - Goldman Sachs Pete Christiansen - Citi Heather Balsky - Bank of America Ella Smith - JPMorgan Ryan Tomasello - KBW Stephen Sheldon - William Blair John Campbell - Stephens Inc Jeff Meuler - Robert W. Baird Nicholas Jones - JMP Securities Ashish Sabadra - RBC Capital Markets Operator Good day, everyone.

While the top- and bottom-line numbers for CoStar (CSGP) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

CoStar Group (CSGP) came out with quarterly earnings of $0.30 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.30 per share a year ago.

CoStar Group Inc tumbled more than 9% in extended trading after the company's third-quarter revenue fell short of expectations.  The commercial real estate information company posted revenue of $625 million, up 12% year-over-year but short of Street expectations of $625.7 million.

OnTheMarket shares OTMP, +53.19% rose 53% to 108 pence after CoStar Group CSGP, -2.68% agreed to acquire the third most visited residential property portal in the United Kingdom, for 110 pence per share, or approximately £100 million. CoStar Group intends to invest £46.5 million into sales and marketing in the first full year following the commencement of the integration of the portal into CoStar's network of residential marketplace, which it said was six times OnTheMarket's annual spend and more than three times that of Rightmove RMV, -12.90%.