CoStar (CSGP) Acquires Business Immo, Expand Footprint in France
CoStar CSGP recently announced the acquisition of France’s premier commercial real estate news service, Business Immo.
The deal will expand CoStar’s footprint in France. Business Immo is a well-known online property news source with national coverage of the French commercial real estate market, attracting more than 300,000 unique visitors each month, including brokers, investors, developers and lenders.
The addition of Business Immo strengthens CoStar’s growing global news team. With more than 235,000 subscribers and 19,000 articles published in 2021, CoStar news is one of the largest national and international real estate news networks in the world.
CoStar’s shares are down 17.2% year to date compared with the Zacks Computers - IT Services industry’s decline of 19.3%. Meanwhile, the Computer & Technology sector has tumbled 11.2%.
CoStar Group, Inc. Price and Consensus
CoStar Group, Inc. price-consensus-chart | CoStar Group, Inc. Quote
For first-quarter 2022, CoStar expects revenues in the range of $510 million to $515 million. The company expects adjusted EBITDA between $155 million and $160 million. Non-GAAP net loss is expected to be 27-28 cents per share in the first quarter.
The Zacks Consensus Estimate for revenues is pegged at $512.32 million, indicating 11.93% growth from the figure reported in the year-ago quarter. The consensus mark for first-quarter 2022 earnings stands at 28 cents per share, up by a penny over the past 30 days.
Zacks Rank & Stocks to Consider
CoStar currently has a Zacks Rank #5 (Strong Sell).
Better-ranked stocks in the same sector includes Teradata TDC, Diodes DIOD and On Semiconductor ON.
Diodes flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DIOD shares have fallen 28% in the year-to-date period. The Zacks Consensus Estimate for Diodes’ first-quarter 2022 earnings stands at $1.55 per share, unchanged over the past 30 days.
On Semiconductor also sports a Zacks Rank #1.
ON shares have declined 20.9% in the year-to-date period. The consensus mark for ON’s first-quarter fiscal 2022 earnings stands at $1.04 per share, unchanged over the past 30 days.
Teradata has a Zacks Rank #2 (Buy).
TDC shares have gained 11.6% in the year-to-date period. The Zacks Consensus Estimate for Teradata’s first-quarter 2022 earnings stands at 65 cents per share, unchanged over the past 30 days.
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Teradata Corporation (TDC) : Free Stock Analysis Report
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ON Semiconductor Corporation (ON) : Free Stock Analysis Report
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