Q3 2024 Earnings Forecast for CoStar Group, Inc. (NASDAQ:CSGP) Issued By William Blair

CoStar Group, Inc. (NASDAQ:CSGP) – William Blair decreased their Q3 2024 earnings per share (EPS) estimates for shares of CoStar Group in a report released 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 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.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Needham & Company LLC lifted their target price on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. BMO Capital Markets raised their price objective on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Citigroup lifted their price objective on CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $102.46.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $92.65 on Friday. The stock’s 50-day moving average is $89.77 and its 200 day moving average is $84.78. The stock has a market cap of $37.83 billion, a price-to-earnings ratio of 126.92, a P/E/G ratio of 10.59 and a beta of 0.84. CoStar Group has a 1-year low of $67.35 and a 1-year 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.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate 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 was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS.

Hedge Funds Weigh In On CoStar Group

Hedge funds have recently made changes to their positions in the business. Deutsche Bank AG boosted its holdings 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 raised its holdings in CoStar Group by 11.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after purchasing an additional 376 shares in the last quarter. Simplicity Solutions LLC lifted its position in shares of CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after purchasing an additional 431 shares during the period. abrdn plc boosted its stake in shares of 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 purchasing an additional 69,744 shares in the last quarter. Finally, Harbor Advisors LLC boosted its stake in shares of CoStar Group by 69.6% during the 4th quarter. Harbor Advisors LLC now owns 17,060 shares of the technology company’s stock valued at $1,491,000 after purchasing an additional 7,000 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other 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.