Research Analysts Set Expectations for CoStar Group, Inc.’s Q3 2024 Earnings (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP) – Equities research analysts at William Blair reduced their Q3 2024 earnings per share (EPS) estimates for CoStar Group in a report issued on Wednesday, July 24th. William Blair analyst S. Sheldon now forecasts that the technology company will earn $0.11 per share for the quarter, down from their previous forecast of $0.12. William Blair 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 Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.21 EPS and Q4 2025 earnings at $0.29 EPS.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS.

CSGP has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a report on Wednesday. Stephens reiterated an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Royal Bank of Canada reduced their price target on CoStar Group from $109.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of 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, The Goldman Sachs Group reduced their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $96.08.

CoStar Group Price Performance

CoStar Group stock opened at $77.84 on Friday. The firm has a fifty day moving average of $76.99 and a 200-day moving average of $84.02. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a quick ratio of 9.09, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.79 billion, a P/E ratio of 106.63, a PEG ratio of 13.28 and a beta of 0.81.

Institutional Investors Weigh In On CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in CoStar Group by 17.7% during 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 buying an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after acquiring an additional 124,761 shares in the last quarter. Norges Bank bought a new stake in shares of CoStar Group in the 4th quarter valued at approximately $406,934,000. Finally, Blair William & Co. IL raised its position in shares of CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after acquiring an additional 26,800 shares in the last quarter. 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.