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

CoStar Group, Inc. (NASDAQ:CSGP) – Equities researchers at William Blair dropped their Q3 2024 earnings per share estimates for shares of 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 per share of $0.12 for the quarter, down from their previous estimate 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.

A number of other analysts have also commented on CSGP. Citigroup boosted their price target on CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. BMO Capital Markets upped their target price on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday. Keefe, Bruyette & Woods upped their target price on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Stephens reiterated an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a report on Wednesday. Finally, Robert W. Baird upped their target price on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $92.65 on Friday. The firm 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. The stock’s 50-day moving average is $89.77 and its 200-day moving average is $84.76. CoStar Group has a one year low of $67.35 and a one year high of $100.38. 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 (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) 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 firm had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Prestige Wealth Management Group LLC raised its position in CoStar Group by 7,202.9% during the 1st quarter. Prestige Wealth Management Group LLC now owns 4,966 shares of the technology company’s stock worth $480,000 after purchasing an additional 4,898 shares during the last quarter. SlateStone Wealth LLC raised its position in CoStar Group by 8.5% during the 1st quarter. SlateStone Wealth LLC now owns 13,208 shares of the technology company’s stock worth $1,276,000 after purchasing an additional 1,034 shares during the last quarter. SYSTM Wealth Solutions LLC grew its holdings in CoStar Group by 10.1% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 32,381 shares of the technology company’s stock worth $3,128,000 after acquiring an additional 2,974 shares during the period. Lindbrook Capital LLC grew its holdings in CoStar Group by 9.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock worth $129,000 after acquiring an additional 113 shares during the period. Finally, Equitable Trust Co. acquired a new stake in CoStar Group during the 1st quarter worth about $4,425,000. 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.