BUZZ-CoStar falls on lower-than-expected annual revenue forecast
ReutersFeb 19, 2025 2:05 PM
Real estate information provider CoStar Group CSGP.O falls over 3.8% to $72.58 in premarket trading
Co forecast annual revenue below Wall Street expectations on Tuesday, as the property market continues to see headwinds from elevated mortgage rates and housing prices
Co expects 2025 revenue between $2.99 bln and $3.02 bln, compared with analysts' average estimate of $3.08 bln, according to data compiled by LSEG
Co reported revenue of $709.4 mln for the quarter ended December 31; profit fell 37.5% to $60 mln, or 15 cents/share
Twelve of 16 brokerages rate the stock "buy" or higher, 3 "hold" and 1 "sell"; their median PT is $85 - LSEG data
CSGP shares up 5.4% YTD as of last close; stock fell ~18.1% in 2024
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