01:31 PM EDT, 04/10/2024 (MT Newswires) -- CoStar Group ( CSGP ) is expected to report flat bookings and in-line results in Q1, RBC Capital Markets said in a report emailed Wednesday.

Agent memberships on Homes.com were 6,643 as of the week of April 1 with 49% of memberships within the top quartile, and this "should deliver solid residential booking growth and potentially increase full-year 2024 Homes.com revenue guidance," RBC said.

The sales team's focus on Homes.com and commercial real estate headwinds may weigh on core bookings and core revenue growth for the remainder of 2024, the report said.

The investment firm estimates core bookings to moderate sequentially to $50 million in Q1, along with Homes.com bookings of $30 million, resulting in $80 million of bookings, or little changed from a year earlier, the report said.

RBC also expects Q1 revenue of $648 million, compared with the consensus estimate of $650 million, and earnings per share of $0.07, in line with consensus.

CoStar ( CSGP ) will release Q1 results on April 23.

RBC rates CoStar ( CSGP ) outperform with a price target of $109.

CoStar ( CSGP ) shares fell 5.7% in recent trading Wednesday.

Price: 90.20, Change: -5.49, Percent Change: -5.74