William Blair Analysts Decrease Earnings Estimates for CoStar Group, Inc. (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP) – Analysts at William Blair reduced their Q3 2024 EPS estimates for CoStar Group in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst S. Sheldon now anticipates that the technology company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.16. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for CoStar Group’s current full-year earnings is $0.44 per share. William Blair also issued estimates for CoStar Group’s FY2024 earnings at $0.43 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.33 EPS.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year.

CSGP has been the topic of several other reports. Citigroup raised their price objective on CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their target price on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Thursday. BTIG Research started coverage on CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Finally, Stephens reiterated an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Stock Performance

Shares of CSGP stock opened at $92.65 on Friday. CoStar Group has a 52 week low of $67.35 and a 52 week high of $100.38. The firm has a 50 day moving average of $89.77 and a 200-day moving average of $84.76. The company has a quick ratio of 12.01, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $37.84 billion, a price-to-earnings ratio of 126.92, a price-to-earnings-growth ratio of 10.57 and a beta of 0.84.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares during the period. Riverview Trust Co purchased a new stake in shares of CoStar Group during the first quarter valued at approximately $35,000. Pinnacle Bancorp Inc. purchased a new stake in shares of CoStar Group during the fourth quarter valued at approximately $37,000. Connectus Wealth LLC boosted its stake in shares of CoStar Group by 915.0% during the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after purchasing an additional 467,534 shares during the period. Finally, CVA Family Office LLC purchased a new stake in shares of CoStar Group during the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.