CoStar Group, Inc. (NASDAQ:CSGP) to Post Q2 2024 Earnings of $0.04 Per Share, William Blair Forecasts

CoStar Group, Inc. (NASDAQ:CSGP) – Investment analysts at William Blair lowered their Q2 2024 earnings per share estimates for CoStar Group in a note issued to investors on Wednesday, April 24th. William Blair analyst S. Sheldon now anticipates that the technology company will post earnings per share of $0.04 for the quarter, down from their prior forecast of $0.05. William Blair currently 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.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group lifted their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. BMO Capital Markets raised their price target on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. BTIG Research began coverage on CoStar Group in a research note on Friday, January 19th. They issued a “neutral” rating for the company. Robert W. Baird raised their price target on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $102.46.

CoStar Group Stock Down 1.0 %

Shares of CoStar Group stock opened at $91.53 on Monday. The business’s 50 day simple moving average is $90.20 and its 200 day simple moving average is $84.96. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The firm has a market cap of $37.38 billion, a PE ratio of 125.38, a P/E/G ratio of 10.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. During the same quarter last year, the firm earned $0.35 EPS. CoStar Group’s revenue for the quarter was up 11.7% compared to the same quarter last year.

Hedge Funds Weigh In On CoStar Group

A number of institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of CoStar Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after buying an additional 761,383 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of CoStar Group by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock worth $1,476,019,000 after buying an additional 91,399 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in CoStar Group by 5.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock worth $920,146,000 after purchasing an additional 596,595 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in CoStar Group by 6.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock worth $428,256,000 after purchasing an additional 319,960 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in CoStar Group by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock worth $425,056,000 after purchasing an additional 218,094 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The disclosure for this sale can be found here. Insiders own 1.58% 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.