William Blair Comments on CoStar Group, Inc.’s Q3 2024 Earnings (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP) – Research analysts at William Blair reduced their Q3 2024 earnings estimates for CoStar Group in a report issued on Wednesday, April 24th. William Blair analyst S. Sheldon now expects that the technology company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.16. William Blair has a “Outperform” rating on the stock. The consensus estimate for CoStar Group’s current full-year earnings is $0.43 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.

Several other equities research analysts also recently weighed in on CSGP. BMO Capital Markets increased their price target on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday. Royal Bank of Canada lifted their target price on CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Stephens reissued an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a research note on Wednesday. Robert W. Baird raised their price target on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research report on Friday, April 12th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Stock Up 2.6 %

Shares of NASDAQ CSGP opened at $92.65 on Friday. The company has a market cap of $37.83 billion, a P/E ratio of 126.92, a PEG ratio of 10.59 and a beta of 0.84. The firm has a 50-day simple moving average of $89.77 and a two-hundred day simple moving average of $84.78. CoStar Group has a 1 year low of $67.35 and a 1 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 released its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS.

Hedge Funds Weigh In On CoStar Group

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in CoStar Group during the 4th quarter valued at $406,934,000. Capital International Investors lifted its stake in shares of CoStar Group by 32.2% during the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after purchasing an additional 982,837 shares during the last quarter. Capital Research Global Investors boosted its position in CoStar Group by 49.2% during the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after purchasing an additional 796,386 shares in the last quarter. Principal Financial Group Inc. boosted its position in CoStar Group by 4.0% during the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after purchasing an additional 761,383 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after purchasing an additional 731,375 shares during the last quarter. Institutional investors 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.