These Analysts Cut Their Forecasts On CoStar Group After Q4 Results
Portfolio Pulse from Avi Kapoor
CoStar Group, Inc. (NASDAQ:CSGP) reported Q4 earnings above market estimates but provided weaker than expected guidance for Q1 and FY24, leading analysts to cut their price targets. Despite challenges in the commercial real estate market, CoStar achieved a 14% revenue growth and 40% profit margins in 2023. Shares rose 2.2% following the announcement.
February 21, 2024 | 7:23 pm
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CoStar Group reported higher than expected Q4 earnings but provided weaker guidance for Q1 and FY24, leading to a mixed reaction from analysts.
While CoStar Group's Q4 earnings outperformed, the weaker guidance for the upcoming periods could temper investor enthusiasm, leading to a neutral short-term impact. Analysts' revised price targets reflect caution, yet the company's strong performance in 2023 and the positive stock reaction indicate underlying strength.
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