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.
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CoStar Group, Inc. (NASDAQ: CSGP) successfully launched the monetization of Homes.com in the first quarter of 2024, resulting in $39 million of net new bookings. This contributed to record net new bookings of $86 million for the quarter, with revenue reaching $656 million, a 12% increase year-over-year. CoStar's Founder and CEO, Andy Florance, highlighted the exceptional sales performance, driven by the strong sales launch of Homes.com and significant growth in marketplace traffic. The company's revenue forecast for Homes.com for the full year 2024 has been raised due to the success of the launch. Additionally, CoStar reported its highest quarterly net new bookings and revenue growth across its key businesses, Apartments.com and CoStar. The company anticipates strong revenue and adjusted EBITDA growth for the full year 2024, with revenue expected to range between $2.76 billion to $2.77 billion, representing a 13% year-over-year growth at the midpoint of the range.
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End-of-Day
8.66%
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CoStar Group, Inc. (CSGP) is set to acquire Matterport in a cash and stock transaction valued at $1.6 billion, aiming to enhance AI and digital twin technology across its product lines. Matterport, a leader in 3D digital twins for real estate, offers dimensionally accurate virtual tours using AI software. The acquisition aligns with CoStar's mission of digitizing real estate, leveraging Matterport's technology in various sectors. CoStar plans to integrate Matterport's solutions into its platforms to enhance user experience and engagement. The transaction, subject to regulatory approvals, signals a strategic move to revolutionize the real estate industry through technology.
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1.25%
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CoStar Group has been named a 2024 Top Workplace in Richmond by the Richmond Times-Dispatch based on employee surveys. This recognition reflects the company's focus on building strong teams and providing a positive work environment. CoStar Group prioritizes employee investment, with high retention rates and extensive training programs.
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-1.5%
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Mohr Logistics Park (MLP) wins the 2024 'Commercial Development of the Year' CoStar Impact Award in the Indianapolis market. The park, spanning 475 acres in Whiteland, IN, showcases innovation and sustainability with high-quality industrial tenants like Cooper Tire, NFI Industries, and DHL. Despite a devastating tornado in 2023, MLP's resilience and community collaboration led to the successful rebuild of a million-square-foot warehouse in just seven months, earning praise and recognition.
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-0.56%
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Apartments.com, a CoStar Group online marketplace, released a report on U.S. multifamily rent trends for Q1 2024. Demand rebounded strongly with 104,400 units absorbed, but 140,000 new units led to a 7.8% vacancy rate. Annual rent growth was 0.7%, with Midwest and Northeast markets outperforming. Luxury market rent growth was negative at -0.3%, while mid-priced 3-Star properties saw positive growth at 1.3%. The multifamily market is expected to add 495,000 units in 2024, a 20% decrease from 2023.
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-1.67%
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CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for Q1 2024 on April 23, 2024, followed by a conference call discussing the results and outlook. Investors can access a live audio webcast and replay on the CoStar Group website.
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CoStar Group (NASDAQ: CSGP) announces the winners of the 2024 CoStar Impact Awards, celebrating outstanding commercial real estate projects and transactions across the UK, US, and Canada. The awards recognized 35 UK winners across three categories, highlighting projects that positively influence markets. Notable winners include Fenwick and Henderson Park for significant acquisitions and developments.
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1.09%
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Homes.com, the #2 Homebuying Portal, experiences a remarkable 567% year-over-year traffic growth, reaching 149 million unique visitors in February. CoStar Group's investment of over $1 billion in Homes.com has led to explosive growth and a unique 'Your Listing, Your Lead' business model, connecting buyers directly to agents. The company's extensive marketing campaign and focus on neighborhood-specific content have contributed to its success.
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End-of-Day
8.32%
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CoStar Group, Inc. (NASDAQ: CSGP) reported strong financial results for the year ended December 31, 2023, with revenue reaching $2.46 billion, a 13% increase from the previous year. The company's net income also saw growth, totaling $375 million for the year. CoStar Group's commercial information and marketplace businesses performed well, achieving a 14% revenue growth in 2023. The launch of Homes.com was successful, with significant net new bookings and positive reception from residential real estate agents. The Company's outlook for 2024 is optimistic, with revenue expected to range from $2.75 billion to $2.77 billion, representing a 12% to 13% year-over-year growth.
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3.37%
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CoStar Group (NASDAQ: CSGP) acquires 552,000 square foot office building in Arlington, Virginia, relocating Washington, D.C. employees. Company plans to capitalize on tax incentives and market conditions. The move signifies growth and expansion for CoStar Group.
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CoStar Group Inc
Nasdaq:CSGP
CSGP Rankings
CSGP Stock Data
37.76B
403.06M
1.19%
100.78%
2.13%
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About CSGP
costar group, inc. (nasdaq: csgp) is the leading provider of commercial real estate information, analytics and online marketplaces. founded in 1987, costar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. loopnet is the most heavily trafficked commercial real estate marketplace online with more than 9.8 million registered members. apartments.com, apartmentfinder.com and apartmenthomeliving.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. costar group operates websites with over 23.6 million unique monthly visitors in aggregate as of june 2015. headquartered in washington, dc, costar maintains off