Analysts Issue Forecasts for CoStar Group FY2024 Earnings

CoStar Group, Inc. (NASDAQ:CSGP) – Stock analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for shares of CoStar Group in a research report issued on Wednesday, October 23rd. William Blair analyst S. Sheldon now forecasts that the technology company will post earnings of $0.52 per share for the year, up from their previous forecast of $0.48. The consensus estimate for CoStar Group’s current full-year earnings is $0.49 per share. William Blair also issued estimates for CoStar Group’s Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.22 EPS and Q3 2025 earnings at $0.26 EPS.

CSGP has been the subject of a number of other reports. BMO Capital Markets reduced their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday. Needham & Company LLC decreased their target price on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America cut their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $96.00 to $83.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.62.

CoStar Group Stock Up 1.5 %

NASDAQ CSGP opened at $73.91 on Friday. The business has a fifty day moving average price of $76.46 and a 200 day moving average price of $79.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company has a market cap of $30.29 billion, a P/E ratio of 167.98 and a beta of 0.81. CoStar Group has a one year low of $67.35 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter last year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CSGP. Baker Tilly Wealth Management LLC lifted its holdings in shares of CoStar Group by 27.7% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 6,553 shares of the technology company’s stock worth $494,000 after acquiring an additional 1,420 shares during the last quarter. KP Management LLC lifted its stake in CoStar Group by 84.4% during the third quarter. KP Management LLC now owns 41,500 shares of the technology company’s stock worth $3,131,000 after purchasing an additional 19,000 shares in the last quarter. Mattern Capital Management LLC boosted its position in shares of CoStar Group by 25.1% during the third quarter. Mattern Capital Management LLC now owns 7,690 shares of the technology company’s stock worth $580,000 after buying an additional 1,541 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of CoStar Group by 60.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock valued at $1,281,000 after buying an additional 6,386 shares in the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of CoStar Group by 9.0% in the 3rd quarter. Forsta AP Fonden now owns 82,000 shares of the technology company’s stock valued at $6,186,000 after buying an additional 6,800 shares during the period. 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.