Welcome to our dedicated page for CoStar Group news (Ticker: CSGP), a resource for investors and traders seeking the latest updates and insights on CoStar Group stock.
CoStar Group Inc. (NASDAQ: CSGP) is the premier provider of commercial real estate information, analytics, and online marketplaces. Established in 1987, CoStar has built and maintained the most comprehensive database of commercial real estate data through extensive and continuous research. This effort supplies clients with unparalleled insights into property values, market conditions, and current availabilities.
CoStar's diverse suite of online services includes CoStar Suite, which offers in-depth analytical information on over 5 million commercial real estate properties across various sectors such as office, retail, hotels, multifamily, healthcare, industrial, self-storage, and data centers. Another prominent platform, LoopNet, is the most trafficked commercial real estate marketplace online, boasting over 9.8 million registered members.
The company also oversees leading apartment resource sites like Apartments.com, ApartmentFinder.com, and ApartmentHomeLiving.com. These platforms serve renters seeking quality apartment homes and provide a robust marketing channel for property managers and owners. As of June 2015, CoStar's websites collectively attract more than 23.6 million unique monthly visitors.
Headquartered in Washington, DC, CoStar Group has significantly expanded its global footprint, including recent growth into markets in Canada, the United Kingdom, Spain, and France. With over 80% of its revenue derived from subscription-based services, CoStar continues to lead the industry through innovation and a commitment to providing actionable real estate intelligence.
CoStar Group (NASDAQ: CSGP) has announced it will host an Investor Day on Thursday, December 5, 2024, from 9:00 a.m. to 2:30 p.m. ET in Richmond, Virginia, with an online webcast option. The event will feature presentations from the company's leadership team, including Founder and CEO Andy Florance, and other senior executives. Attendees will tour the company's global campus and engage with management. The event will be accessible through the company's investor relations website, with a replay available for at least 30 days afterward. In-person attendance is by invitation only.
CoStar Group (NASDAQ: CSGP) has announced its participation in the RBC Capital Markets 2024 Global TIMT Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will engage in a fireside chat on November 20, 2024, at 3:20 p.m. ET. The presentation will be available via webcast, both live and recorded, on the company's Investor Relations website for at least 30 days.
CoStar Group, founded in 1987, is a leading provider of online real estate marketplaces, information, and analytics. The company operates multiple platforms including Apartments.com, LoopNet, STR, Ten-X, Homes.com, and several European property portals. Their websites attracted over 163 million average monthly unique visitors in Q3 2024.
CoStar Group (NASDAQ: CSGP) announced its participation in the upcoming Stephens NASH24 Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will engage in a fireside chat on Tuesday, November 19, 2024, at 10:00 a.m. ET. The presentation will be accessible via webcast, with both live and recorded versions available on CoStar's Investor Relations website for at least 30 days.
CoStar Group, founded in 1987, operates as a leading provider of online real estate marketplaces, information, and analytics. The company's portfolio includes prominent platforms like Apartments.com, LoopNet, Homes.com, and various international property portals. Their websites attracted over 163 million average monthly unique visitors in Q3 2024.
CoStar Group (NASDAQ: CSGP) has announced its participation in the upcoming KBW Fintech Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will engage in a fireside chat on November 14, 2024, at 12:40 p.m. ET. The presentation will be accessible via webcast, with both live and recorded versions available on the company's investor relations website for at least 30 days.
CoStar Group, established in 1987, operates as a leading provider of online real estate marketplaces, information, and analytics. The company manages several prominent platforms including Apartments.com, LoopNet, Homes.com, and various international property portals. Their websites attracted over 163 million average monthly unique visitors in Q3 2024.
CoStar Group (NASDAQ: CSGP) has opened nominations for its fourth annual CoStar Impact Awards, recognizing outstanding commercial real estate projects across 129 markets in the US, Canada, and UK. The awards will evaluate projects completed in 2024 across categories including Lease of the Year, Commercial Development, Multifamily Development, Redevelopment, and Sale/Acquisition. Winners will be selected by panels of industry professionals and receive trophies and promotion on CoStar's platform. Notable past winners include a sustainable logistics hub in Ottawa, a 76-story mixed-use condominium in Toronto, and a LEED-certified warehouse on Long Island. Nominations are open through January 31, 2025.
CoStar Group (NASDAQ: CSGP) has announced its fourth annual CoStar Impact Awards, recognizing outstanding commercial real estate projects across 129 markets in the US, Canada, and UK. The awards will evaluate projects completed in 2024 across categories including Lease of the Year, Commercial Development, Multifamily Development, Redevelopment, and Sale/Acquisition.
Winners will be selected by panels of industry professionals based on their project's influence, growth potential, and ability to overcome market challenges. Notable past winners include a sustainable logistics hub in Ottawa, a 76-story mixed-use development in Toronto, and a LEED-certified warehouse on Long Island. Nominations are open through January 31, 2025, and judge applications are due by November 14, 2024.
CoStar Group (NASDAQ: CSGP) has completed the acquisition of Visual Lease, a lease administration and accounting platform. Visual Lease, founded in 1996, serves over 1,500 organizations across various sectors. The merger aims to enhance CoStar's Real Estate Manager business line by combining Visual Lease's lease management expertise with CoStar's data analytics capabilities. The integration will provide comprehensive lease management and accounting solutions, strengthen relationships with service providers, and expand technology partnerships. Visual Lease's GASB experience and ESG analytics will enhance CoStar's offerings for government customers and sustainability solutions.
CoStar Group (NASDAQ: CSGP) announced an agreement with Gartner to secure office space at 1201 Wilson Boulevard in Arlington, Virginia, for its headquarters relocation in early 2025. Gartner will pay a $48 million early termination fee and retain approximately 49,000 square feet through 2032. The 552,000-square-foot LEED Platinum-certified building, recently purchased by CoStar, will accommodate the company's expansion from Washington, DC. CoStar's revenue has grown from $252 million in 2011 to $2.46 billion in 2023, with employee count increasing from 1,000 to over 6,400.
CoStar Group (NASDAQ: CSGP) has announced a definitive agreement to acquire Visual Lease, a leading lease administration and accounting platform. This strategic acquisition will enhance CoStar's Real Estate Manager business line and provide additional lease management and accounting value to corporations of all sizes. Visual Lease, founded in 1996, serves over 1,500 organizations across various sectors.
The combination aims to create a more comprehensive service offering by integrating CoStar Group's industry expertise with Visual Lease's diverse customer base and lease portfolio management expertise. The acquisition is expected to enhance functionality for businesses of all sizes and increase integration opportunities with key technology partners.
CoStar Group plans to provide additional information about the Visual Lease acquisition during its earnings conference call on October 22, 2024.
CoStar Group reported strong Q3 2024 results with revenue of $693 million, up 11% year-over-year. Net income increased 176% from Q2 2024 to $53 million, with earnings per diluted share of $0.13. EBITDA rose 320% to $51 million, while Adjusted EBITDA grew 86% to $76 million, exceeding guidance by 54%.
The company's commercial information and marketplace businesses achieved 43% profit margins. Average monthly unique visitors increased 28% year-over-year to 163 million. Homes.com's unaided awareness rose from 4% to 33% since February 2024. In the UK, OnTheMarket saw significant growth in traffic, visitors, agents, leads, and listings.
CoStar Group updated its 2024 outlook, projecting full-year revenue of $2.72-$2.73 billion and Q4 revenue of $693-$703 million. Adjusted EBITDA guidance for 2024 was raised to $205-$215 million, with Q4 expected at $76-$86 million. The company forecasts full-year non-GAAP EPS of $0.67-$0.69 and Q4 non-GAAP EPS of $0.21-$0.23.
FAQ
What is the current stock price of CoStar Group (CSGP)?
What is the market cap of CoStar Group (CSGP)?
What is CoStar Group Inc.?
When was CoStar Group founded?
What services does CoStar Group offer?
How many registered members does LoopNet have?
Where is CoStar Group headquartered?
Which sectors does CoStar Suite cover?
What are some key online apartment resources managed by CoStar Group?
What percentage of CoStar Group's revenue is subscription-based?
In which countries has CoStar Group recently expanded?
How many unique monthly visitors do CoStar's websites attract?
