CoStar Group, Inc. (CSGP) declined in the current market after announcing its fourth quarter and fiscal 2021 results. CSGP values at $56.53, losing more than 10% compared to yesterday’s closing price. The stock closed at $62.94 at the end of the last trading session. The stock volume traded in the last trading session was around 2.07 million shares. The current market cap of the company is around $622.18 billion.
CSGP: Q4 and Fiscal 2021 Key Financials
- CSGP revenue in Q4 2021 was $507 million. It is a gain of more than 14% compared to the revenue of $444 million in Q4 2020.
- Fiscal year revenue was $1.94 billion, and it is an increase of more than 17% compared to the revenue of $1.66 billion in fiscal 2020.
- The company’s net income in Q4 2021 was around $93 million. The net income was $3 million in Q4 2020
- CSGP net income in fiscal 2021 was around $293 million. The net income in fiscal 2020 was $227 million.
- The Q4 2021 earnings per diluted share were $0.24.
- As of December 31, 2021, the company had around $3.8 billion in cash and cash equivalents.
CSGP Founder and CEO’s Remarks
CoStar Group had another successful year in terms of revenue and sales growth in 2021, Founder and CEO of CoStar Group Andrew C. Florance commented. Their Q4 2021 revenue run rate has surpassed $2 billion, and the output of our sales has never been higher. A record $67 million in net revenue reservations for Q4 2021 pushed the company’s total net sales reservations for the year to $217 million, an 18 percent year-over-year gain.
CSGP 2022 Outlook
For the full year of 2022, the Company forecasts sales between $2.145 billion and $2.165 billion, reflecting an estimated 11% year-over-year increase. The company predicts sales of $510 million to $515 million in Q1 2022, reflecting a 12% year-over-year increase.
Conclusion
The stock of the company is down despite its excellent financial returns. The reason could be linked to its employees speaking about its surveillance and humiliating them. Many former and current employees have spoken about it. The company’s stock is declining no matter how solid the financial results are.
