Q2 2024 EPS Estimates for CoStar Group, Inc. (NASDAQ:CSGP) Reduced by William Blair

CoStar Group, Inc. (NASDAQ:CSGP) – Stock analysts at William Blair dropped their Q2 2024 earnings estimates for shares of CoStar Group in a research note issued on Wednesday, April 24th. William Blair analyst S. Sheldon now anticipates that the technology company will earn $0.04 per share for the quarter, down from their prior forecast of $0.05. William Blair 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 issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $634.27 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis.

Other equities research analysts have also issued research reports about the stock. Citigroup lifted their price objective on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada boosted their price target on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Jefferies Financial Group raised their price objective on CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 12th. 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. Finally, Bank of America increased their price target on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. 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 a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Stock Up 2.6 %

NASDAQ:CSGP opened at $92.65 on Monday. The company has a market cap of $37.83 billion, a price-to-earnings ratio of 126.92, a price-to-earnings-growth ratio of 10.86 and a beta of 0.84. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. 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 simple moving average of $89.77 and a 200-day simple moving average of $84.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CSGP. Deutsche Bank AG boosted its stake in CoStar Group by 37.1% in the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock valued at $56,877,000 after acquiring an additional 200,183 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in CoStar Group by 11.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after buying an additional 376 shares during the last quarter. Simplicity Solutions LLC increased its position in CoStar Group by 5.7% during the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock valued at $697,000 after buying an additional 431 shares in the last quarter. abrdn plc increased its position in CoStar Group by 69.8% during the 4th quarter. abrdn plc now owns 169,683 shares of the technology company’s stock valued at $14,829,000 after buying an additional 69,744 shares in the last quarter. Finally, Harbor Advisors LLC raised its stake in CoStar Group by 69.6% in the fourth quarter. Harbor Advisors LLC now owns 17,060 shares of the technology company’s stock valued at $1,491,000 after buying an additional 7,000 shares during the last quarter. Hedge funds and other 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.