CoStar Group slightly beats Q1 revenue estimates, reaffirms 2026 revenue guidance

CoStar

28/04/2026 21:13

Overview

US real estate data platform's Q1 revenue rose 23% yr/yr, slightly beating analyst expectations

Adjusted EPS for Q1 rose 53% to $0.23, beating analyst expectations

Company reported strong growth in net new bookings and digital platform engagement

Outlook

CoStar Group reaffirms 2026 revenue guidance at $3.78 bln to $3.82 bln

Company raises 2026 adjusted EBITDA guidance to $780 mln-$820 mln

CoStar Group expects Q2 2026 revenue of $922 mln-$932 mln and adjusted EPS of $0.27-$0.30

Result Drivers

PRODUCT LAUNCHES - Co said the launch of its Homes.com AI application in February contributed to a 119% increase in organic traffic and record engagement metrics

NET NEW BOOKINGS - Co reported $67 mln in net new bookings in Q1, up 20% yr/yr, supporting revenue growth

DIGITAL PLATFORM ENGAGEMENT - Co said customer engagement accelerated with best-ever time on site, page views, and bounce rates

Company press release: ID:nBw8CpdR7a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$897 mln
$896.77 mln (17 Analysts)
Q1 Adjusted EPS
Beat
$0.23
$0.18 (17 Analysts)
Q1 EPS
$0.01
Q1 Net Income
$3 mln
Q1 Gross Profit
$701 mln
Q1 Income From Operations
$3 mln
Q1 Pretax Profit
$12 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the online services peer group is "buy"

Wall Street's median 12-month price target for Costar Group Inc is $55.50, about 53.1% above its April 27 closing price of $36.24

The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 49 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)