5 Stocks Making Moves After Earnings Reports

In this article, we discuss the 5 stocks making moves after earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Making Moves After Earnings Reports.  

5. CoStar Group, Inc. (NASDAQ:CSGP)

Number of Hedge Fund Holders: 49

Shares of CoStar Group, Inc. (NASDAQ:CSGP) plunged to a nearly three-year low in the pre-market trading session on Wednesday, February 23, 2022, despite beating expectations for the fourth quarter.

CoStar Group, Inc. (NASDAQ:CSGP) reported adjusted earnings of 35 cents per share, up from 29 cents per share in the same period of 2020. Revenue for the quarter rose 14 percent on a year-over-year basis to $507 million. The results easily surpassed the consensus forecast of 29 cents per share for earnings and $501.28 million for revenue.

Looking forward, CoStar Group, Inc. (NASDAQ:CSGP) expects revenue in the range of $510 – $515 million for the first quarter. The midpoint of the outlook translates to year-over-year growth of 12 percent.

Commenting on the results, CEO Andrew Florance said:

“Our fourth quarter 2021 revenue run rate is now over $2 billion and our sales production has never been stronger. Company-wide net sales bookings for 2021 increased 18% year-over-year to $217 million, while net sales bookings in the fourth quarter of 2021 reached an all-time high of $67 million.”