CoStar Group (NASDAQ:CSGP) Stock Rating Reaffirmed by William Blair

William Blair reissued their outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a research note issued to investors on Wednesday, RTT News reports. William Blair also issued estimates for CoStar Group’s Q3 2024 earnings at $0.12 EPS, FY2024 earnings at $0.43 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.33 EPS.

A number of other equities research analysts also recently weighed in on CSGP. BMO Capital Markets boosted their price target on CoStar Group from $79.00 to $84.00 and gave the company a market perform rating in a report on Friday, April 19th. Jefferies Financial Group boosted their price target on CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a report on Friday, April 12th. Keefe, Bruyette & Woods boosted their price target on CoStar Group from $96.00 to $109.00 and gave the company an outperform rating in a report on Wednesday, April 10th. The Goldman Sachs Group boosted their price target on CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a report on Wednesday, March 20th. Finally, Needham & Company LLC upped their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a buy rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $102.46.

CoStar Group Stock Performance

Shares of CSGP opened at $92.65 on Wednesday. The business’s 50 day moving average is $89.77 and its two-hundred day moving average is $84.78. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The firm has a market cap of $37.83 billion, a price-to-earnings ratio of 126.92, a PEG ratio of 10.59 and a beta of 0.84. The company has a quick ratio of 12.01, a current ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same period in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts forecast that CoStar Group will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CSGP. Principal Financial Group Inc. boosted its position in CoStar Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after acquiring an additional 761,383 shares during the period. Bamco Inc. NY boosted its position in CoStar Group by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock worth $1,476,019,000 after acquiring an additional 91,399 shares during the period. Massachusetts Financial Services Co. MA boosted its position in CoStar Group by 5.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock worth $920,146,000 after acquiring an additional 596,595 shares during the period. Artisan Partners Limited Partnership boosted its position in CoStar Group by 6.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock worth $428,256,000 after acquiring an additional 319,960 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in CoStar Group by 4.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock worth $425,056,000 after acquiring an additional 218,094 shares during the period. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Company Profile

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.