Analysts Issue Forecasts for CoStar Group FY2024 Earnings

CoStar Group, Inc. (NASDAQ:CSGP - Free Report) - Analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for CoStar Group in a research report issued on Wednesday, October 23rd. William Blair analyst S. Sheldon now anticipates that the technology company will post earnings per share of $0.52 for the year, up from their prior estimate 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.

A number of other brokerages have also issued reports on CSGP. Royal Bank of Canada lowered shares of CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $96.00 to $83.00 in a research report on Wednesday. Bank of America reduced their price target on CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. Needham & Company LLC dropped their price objective on CoStar Group from $107.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday. Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.62.

CoStar Group Stock Performance

NASDAQ:CSGP traded up $0.57 during mid-day trading on Friday, reaching $74.48. 4,795,638 shares of the company's stock were exchanged, compared to its average volume of 2,351,629. CoStar Group has a one year low of $68.26 and a one year high of $100.38. 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 business's fifty day simple moving average is $76.45 and its two-hundred day simple moving average is $79.16. The firm has a market capitalization of $30.52 billion, a PE ratio of 169.69 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. The firm had revenue of $692.60 million for the quarter, compared to analysts' expectations of $695.91 million. During the same quarter last year, the business earned $0.25 EPS. The company's quarterly revenue was up 10.9% compared to the same quarter last year.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently modified their holdings of CSGP. Crewe Advisors LLC bought a new stake in shares of CoStar Group during the first quarter worth about $31,000. RiverPark Advisors LLC bought a new stake in CoStar Group during the 1st quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group in the 2nd quarter valued at approximately $49,000. Covestor Ltd raised its stake in shares of CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company's stock valued at $68,000 after acquiring an additional 211 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of CoStar Group during the second quarter worth $54,000. Institutional investors own 96.60% of the company's stock.

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.