William Blair Comments on CoStar Group, Inc.’s FY2024 Earnings (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP) – Analysts at William Blair upped their FY2024 EPS estimates for CoStar Group in a research report issued to clients and investors on Wednesday, July 24th. William Blair analyst S. Sheldon now anticipates that the technology company will post earnings per share of $0.48 for the year, up from their prior forecast of $0.43. William Blair has a “Outperform” rating on the stock. 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 FY2025 earnings at $0.90 EPS.

A number of other research analysts have also recently commented on the company. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday. Stephens restated an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. Keefe, Bruyette & Woods decreased their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Bank of America lowered their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, JMP Securities cut their price objective on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.08.

CoStar Group Stock Performance

Shares of CSGP opened at $78.48 on Monday. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The company has a 50-day simple moving average of $76.47 and a two-hundred day simple moving average of $83.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The firm has a market capitalization of $32.16 billion, a PE ratio of 107.51, a price-to-earnings-growth ratio of 11.66 and a beta of 0.81.

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

Hedge Funds Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in CoStar Group by 125.4% in the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after acquiring an additional 173 shares during the period. Global Retirement Partners LLC lifted its stake in shares of CoStar Group by 348.6% in the 4th quarter. Global Retirement Partners LLC now owns 2,288 shares of the technology company’s stock worth $187,000 after purchasing an additional 1,778 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of CoStar Group by 9.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 3,963 shares of the technology company’s stock worth $346,000 after buying an additional 330 shares during the last quarter. Fifth Third Bancorp grew its position in CoStar Group by 16.0% during the fourth quarter. Fifth Third Bancorp now owns 7,395 shares of the technology company’s stock valued at $646,000 after buying an additional 1,018 shares during the period. Finally, Regatta Capital Group LLC increased its holdings in CoStar Group by 1.5% during the fourth quarter. Regatta Capital Group LLC now owns 11,106 shares of the technology company’s stock valued at $971,000 after buying an additional 166 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John W. Hill 1,325 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by insiders.

About CoStar Group

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.