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

CoStar Group, Inc. (NASDAQ:CSGP) – Analysts at William Blair decreased their Q3 2024 earnings estimates for CoStar Group in a report issued on Wednesday, April 24th. William Blair analyst S. Sheldon now forecasts that the technology company will post earnings per share of $0.12 for the quarter, down from their prior estimate of $0.16. William Blair 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.

A number of other research analysts also recently issued reports on CSGP. Stephens reissued an “overweight” rating and set a $105.00 price objective on shares of CoStar Group in a research report on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Bank of America upped their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. The Goldman Sachs Group upped their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group upped their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average target price of $102.46.

CoStar Group Trading Down 1.8 %

Shares of CoStar Group stock opened at $90.34 on Friday. The firm has a market cap of $36.90 billion, a PE ratio of 123.75, a PEG ratio of 10.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 12.01. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The company has a 50 day simple moving average of $89.55 and a two-hundred day simple moving average of $84.68.

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

Institutional Investors Weigh In On CoStar Group

Large investors have recently modified their holdings of the stock. SYSTM Wealth Solutions LLC boosted its position in shares of CoStar Group by 10.1% in the first quarter. SYSTM Wealth Solutions LLC now owns 32,381 shares of the technology company’s stock worth $3,128,000 after buying an additional 2,974 shares during the period. Lindbrook Capital LLC raised its holdings in CoStar Group by 9.2% during the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after buying an additional 113 shares in the last quarter. Equitable Trust Co. bought a new position in CoStar Group during the first quarter valued at about $4,425,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CoStar Group by 7.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 131,633 shares of the technology company’s stock valued at $12,716,000 after buying an additional 8,905 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in CoStar Group by 10.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,070 shares of the technology company’s stock valued at $5,706,000 after buying an additional 5,600 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

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.