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William Blair Expects Reduced Earnings for CoStar Group

CoStar Group logo with Computer and Technology background

CoStar Group, Inc. (NASDAQ:CSGP - Free Report) - William Blair decreased their Q4 2024 EPS estimates for CoStar Group in a report issued on Wednesday, October 23rd. William Blair analyst S. Sheldon now anticipates that the technology company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.20. The consensus estimate for CoStar Group's current full-year earnings is $0.52 per share. William Blair also issued estimates for CoStar Group's Q4 2025 earnings at $0.30 EPS, FY2025 earnings at $0.93 EPS and FY2026 earnings at $1.53 EPS.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same quarter in the prior year, the company earned $0.25 EPS. The company's revenue was up 10.9% on a year-over-year basis.

CSGP has been the topic of several other reports. BMO Capital Markets dropped their target price on CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Bank of America lowered their target price on CoStar Group from $111.00 to $89.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada cut CoStar Group from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

Read Our Latest Report on CSGP

CoStar Group Stock Down 0.2 %

CoStar Group stock traded down $0.17 during trading on Monday, reaching $74.31. 5,752,927 shares of the company's stock were exchanged, compared to its average volume of 2,367,981. The company's 50-day moving average is $76.46 and its two-hundred day moving average is $78.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The firm has a market cap of $30.46 billion, a price-to-earnings ratio of 169.28 and a beta of 0.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Vulcan Value Partners LLC lifted its stake in CoStar Group by 90.1% in the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock valued at $306,831,000 after buying an additional 1,961,917 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company's stock worth $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Select Equity Group L.P. bought a new stake in CoStar Group in the 2nd quarter valued at about $60,761,000. Renaissance Technologies LLC acquired a new position in CoStar Group during the 2nd quarter valued at about $46,692,000. Finally, Vanguard Group Inc. boosted its stake in CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company's stock valued at $6,322,615,000 after purchasing an additional 541,700 shares during the period. Institutional investors and hedge funds own 96.60% of the company's stock.

About CoStar Group

(Get Free Report)

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.

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Earnings History and Estimates for CoStar Group (NASDAQ:CSGP)

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