William Blair Increases Earnings Estimates for CoStar Group

CoStar Group, Inc. (NASDAQ:CSGP) – Investment analysts at William Blair upped their FY2024 EPS estimates for CoStar Group in a research note issued to investors on Wednesday, October 23rd. William Blair analyst S. Sheldon now expects that the technology company will post earnings per share of $0.52 for the year, up from their previous estimate of $0.48. The consensus estimate for CoStar Group’s current full-year earnings is $0.49 per share. William Blair also issued estimates for CoStar Group’s Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.22 EPS and Q3 2025 earnings at $0.26 EPS.

A number of other research firms have also issued reports on CSGP. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $96.00 to $83.00 in a research report on Wednesday. StockNews.com upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Robert W. Baird lowered their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Needham & Company LLC reduced their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citigroup lowered their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Trading Up 0.8 %

NASDAQ:CSGP opened at $74.48 on Friday. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a market cap of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $76.46 and a 200 day moving average price of $79.02.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. During the same period in the prior year, the business earned $0.25 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in CoStar Group during the first quarter worth approximately $31,000. RiverPark Advisors LLC acquired a new position in shares of CoStar Group in the 1st quarter valued at $37,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter valued at $49,000. Quarry LP acquired a new stake in CoStar Group during the 2nd quarter worth $54,000. Finally, Covestor Ltd grew its position in CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares during the last quarter. Institutional investors and hedge funds 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.