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CoStar (CSGP) Soars 8.3%: Is Further Upside Left in the Stock?
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CoStar Group (CSGP - Free Report) shares ended the last trading session 8.3% higher at $95.18. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.9% gain over the past four weeks.
CoStar Group is benefiting from a robust portfolio of marketplaces which includes Apartments.com, LoopNet and Homes.com. It has witnessed a terrific growth in traffic across its portfolio of marketplaces in recent times.
CoStar recently announced a significant achievement for Homes.com, which witnessed more than 149 unique visitors in February, positioning it as the second-most trafficked homebuying portal. This achievement underscores the platform's growing influence in the real estate market.
This commercial real estate information and marketing provider is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -62.1%. Revenues are expected to be $649.17 million, up 11.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For CoStar, the consensus EPS estimate for the quarter has been revised 92.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CSGP going forward to see if this recent jump can turn into more strength down the road.
CoStar belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, Stem, Inc. (STEM - Free Report) , closed the last trading session 3.9% higher at $1.85. Over the past month, STEM has returned -47.2%.
For Stem, Inc., the consensus EPS estimate for the upcoming report has changed -7.6% over the past month to -$0.21. This represents a change of +27.6% from what the company reported a year ago. Stem, Inc. currently has a Zacks Rank of #3 (Hold).
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CoStar (CSGP) Soars 8.3%: Is Further Upside Left in the Stock?
CoStar Group (CSGP - Free Report) shares ended the last trading session 8.3% higher at $95.18. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.9% gain over the past four weeks.
CoStar Group is benefiting from a robust portfolio of marketplaces which includes Apartments.com, LoopNet and Homes.com. It has witnessed a terrific growth in traffic across its portfolio of marketplaces in recent times.
CoStar recently announced a significant achievement for Homes.com, which witnessed more than 149 unique visitors in February, positioning it as the second-most trafficked homebuying portal. This achievement underscores the platform's growing influence in the real estate market.
This commercial real estate information and marketing provider is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -62.1%. Revenues are expected to be $649.17 million, up 11.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For CoStar, the consensus EPS estimate for the quarter has been revised 92.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CSGP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CoStar belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, Stem, Inc. (STEM - Free Report) , closed the last trading session 3.9% higher at $1.85. Over the past month, STEM has returned -47.2%.
For Stem, Inc., the consensus EPS estimate for the upcoming report has changed -7.6% over the past month to -$0.21. This represents a change of +27.6% from what the company reported a year ago. Stem, Inc. currently has a Zacks Rank of #3 (Hold).