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

CoStar Group, Inc. (NASDAQ:CSGP) – Stock analysts at William Blair cut their Q2 2024 earnings per share estimates for CoStar Group in a report released on Wednesday, April 24th. William Blair analyst S. Sheldon now forecasts that the technology company will post earnings of $0.04 per share for the quarter, down from their prior estimate of $0.05. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for CoStar Group’s current full-year earnings is $0.45 per share. William Blair also issued estimates for CoStar Group’s Q4 2024 earnings at $0.20 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.20 EPS and FY2025 earnings at $0.91 EPS.

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

A number of other equities research analysts have also issued reports on the company. Stephens reaffirmed an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a research report on Wednesday, April 24th. Royal Bank of Canada lifted their price target on shares of CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Citigroup boosted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Bank of America raised their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Jefferies Financial Group boosted their target price on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $102.46.

CoStar Group Trading Up 2.6 %

NASDAQ:CSGP opened at $92.65 on Monday. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The firm has a market cap of $37.83 billion, a PE ratio of 126.92, a price-to-earnings-growth ratio of 10.86 and a beta of 0.84. The company has a current ratio of 9.09, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $89.77 and a 200 day moving average price of $84.80.

Hedge Funds Weigh In On CoStar Group

Institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC increased its stake in CoStar Group by 9.2% in the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after purchasing an additional 113 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of CoStar Group by 3.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock worth $320,000 after buying an additional 121 shares during the last quarter. Axxcess Wealth Management LLC increased its position in CoStar Group by 4.6% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,775 shares of the technology company’s stock valued at $243,000 after acquiring an additional 123 shares during the period. KB Financial Partners LLC raised its stake in CoStar Group by 17.9% during the 3rd quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after acquiring an additional 124 shares during the last quarter. Finally, Wealth Alliance lifted its position in CoStar Group by 3.0% during the 4th quarter. Wealth Alliance now owns 4,539 shares of the technology company’s stock worth $397,000 after acquiring an additional 132 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

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.