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CoStar expects revenues between $566 million and $571 million, indicating revenue growth of 12-13%.
For the fourth quarter, the Zacks Consensus Estimate for revenues currently stands at $567.96 million, suggesting growth of 12.07% from the year-ago quarter.
The consensus mark for earnings remained unchanged at 34 cents per share over the past 30 days, indicating a decline of 2.86% from the year-ago quarter.
CoStar’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 22.43%.
Let’s see how things have shaped up for the upcoming announcement:
Factors to Note
CoStar’s fourth-quarter performance is likely to have benefited from expanding its product portfolio.
Apartments.com sales are expected to have maintained the momentum witnessed in the third quarter. The platform revenues of $190 million, up 11% year over year. CoStar expects the growth rate to improve in the to-be-reported quarter.
CoStar is expected to have witnessed a higher vacancy rate, thereby lower rent growth in the to-be-reported quarter.
Moreover, challenging macroeconomic conditions, including higher inflation and looming recession fears, have been hurting consumer confidence, which did not benefit CoStar.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
CoStar has an Earnings ESP of -0.59% and currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
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CoStar Group (CSGP) to Post Q4 Earnings: What's in Store?
CoStar Group (CSGP - Free Report) is slated to report its fourth-quarter 2022 earnings on Feb 21.
CoStar expects revenues between $566 million and $571 million, indicating revenue growth of 12-13%.
For the fourth quarter, the Zacks Consensus Estimate for revenues currently stands at $567.96 million, suggesting growth of 12.07% from the year-ago quarter.
The consensus mark for earnings remained unchanged at 34 cents per share over the past 30 days, indicating a decline of 2.86% from the year-ago quarter.
CoStar’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 22.43%.
CoStar Group, Inc. Price and EPS Surprise
CoStar Group, Inc. price-eps-surprise | CoStar Group, Inc. Quote
Let’s see how things have shaped up for the upcoming announcement:
Factors to Note
CoStar’s fourth-quarter performance is likely to have benefited from expanding its product portfolio.
Apartments.com sales are expected to have maintained the momentum witnessed in the third quarter. The platform revenues of $190 million, up 11% year over year. CoStar expects the growth rate to improve in the to-be-reported quarter.
CoStar is expected to have witnessed a higher vacancy rate, thereby lower rent growth in the to-be-reported quarter.
Moreover, challenging macroeconomic conditions, including higher inflation and looming recession fears, have been hurting consumer confidence, which did not benefit CoStar.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
CoStar has an Earnings ESP of -0.59% and currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Salesforce (CRM - Free Report) has an Earnings ESP of +0.32% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Salesforce shares have declined 15.9% in the past year. CRM is set to report its fourth-quarter fiscal 2023 results on Mar 1.
Bumble (BMBL - Free Report) has an Earnings ESP of +275.00% and a Zacks Rank #3.
Bumble shares have declined 14% in the past year. BMBL is set to report its fourth-quarter 2022 results on Feb 22.
CrowdStrike (CRWD - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #3.
CRWD shares have declined 32.2% in the past year. CrowdStrike is set to report its fourth-quarter fiscal 2023 results on Mar 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.