William Blair Comments on CoStar Group, Inc.'s Q3 2024 Earnings (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP - Free Report) - Equities researchers at William Blair reduced their Q3 2024 EPS estimates for shares of CoStar Group in a research report issued on Wednesday, April 24th. William Blair analyst S. Sheldon now anticipates that the technology company will earn $0.12 per share for the quarter, down from their prior forecast of $0.16. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for CoStar Group's current full-year earnings is $0.44 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.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $640.00 million for the quarter, compared to analysts' expectations of $634.27 million. During the same period in the prior year, the company posted $0.35 EPS. CoStar Group's revenue was up 11.7% compared to the same quarter last year.

Several other equities analysts have also commented on CSGP. JMP Securities reaffirmed a "market outperform" rating and set a $110.00 target price on shares of CoStar Group in a report on Friday, April 12th. Stephens reaffirmed an "overweight" rating and set a $105.00 target price on shares of CoStar Group in a report on Wednesday. BMO Capital Markets raised their price target on shares of CoStar Group from $84.00 to $88.00 and gave the stock a "market perform" rating in a report on Thursday. Citigroup raised their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Finally, BTIG Research started coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a "neutral" rating for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.46.

CoStar Group Price Performance

NASDAQ CSGP traded up $2.31 on Friday, hitting $92.65. The stock had a trading volume of 2,234,096 shares, compared to its average volume of 2,201,923. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 9.09. The company has a market capitalization of $37.84 billion, a price-to-earnings ratio of 123.75, a price-to-earnings-growth ratio of 10.57 and a beta of 0.84. The firm has a 50-day moving average of $89.55 and a 200-day moving average of $84.68.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in CoStar Group by 4.0% in the third 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 during the last quarter. Bamco Inc. NY grew its position in CoStar Group by 0.5% during the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company's stock valued at $1,476,019,000 after buying an additional 91,399 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in CoStar Group by 5.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company's stock valued at $920,146,000 after purchasing an additional 596,595 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in CoStar Group by 6.1% during the third quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company's stock valued at $428,256,000 after purchasing an additional 319,960 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in CoStar Group by 4.1% during the third quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company's stock valued at $425,056,000 after purchasing an additional 218,094 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.