Real estate data provider CoStar Group (NASDAQ: CSGP) will be announcing earnings results this Tuesday after market close. Here’s what you need to know.
CoStar beat analysts’ revenue expectations last quarter, reporting revenues of $900 million, up 26.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ full-year EPS guidance estimates and a significant miss of analysts’ EPS guidance for next quarter estimates.
Is CoStar a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CoStar’s revenue to grow 22.5% year on year, improving from the 11.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CoStar rarely misses Wall Street’s revenue estimates.
Looking at CoStar’s peers in the professional services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. SS&C delivered year-on-year revenue growth of 8.8%, beating analysts’ expectations by 1.1%, and Equifax reported revenues up 14.3%, topping estimates by 2%. SS&C traded down 4% following the results while Equifax was also down 10%.
Read our full analysis of SS&C’s results here and Equifax’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 13.2% on average over the last month. CoStar is down 10.9% during the same time and is heading into earnings with an average analyst price target of $59.84 (compared to the current share price of $36.43).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
