CoStar Group (NASDAQ:CSGP) Earns “Outperform” Rating from William Blair

William Blair reaffirmed their outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a report issued on Wednesday morning, RTT News reports. William Blair also issued estimates for CoStar Group’s Q3 2024 earnings at $0.12 EPS, FY2024 earnings at $0.43 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.33 EPS.

Several other equities research analysts also recently issued reports on the company. BTIG Research started coverage on CoStar Group in a report on Friday, January 19th. They issued a neutral rating for the company. Jefferies Financial Group increased their price objective on CoStar Group from $85.00 to $95.00 and gave the stock a hold rating in a report on Friday, April 12th. BMO Capital Markets increased their price objective on CoStar Group from $79.00 to $84.00 and gave the stock a market perform rating in a report on Friday, April 19th. Needham & Company LLC increased their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a buy rating in a report on Wednesday. Finally, Royal Bank of Canada increased their price objective on CoStar Group from $95.00 to $109.00 and gave the stock an outperform rating in a report on Monday, March 25th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $102.46.

CoStar Group Stock Up 2.6 %

Shares of CoStar Group stock opened at $92.65 on Wednesday. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The business has a 50-day moving average of $89.77 and a two-hundred day moving average of $84.76. The company has a market capitalization of $37.83 billion, a P/E ratio of 126.92, a price-to-earnings-growth ratio of 10.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same period in the prior year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts predict that CoStar Group will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG grew its stake in CoStar Group by 37.1% in the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock valued at $56,877,000 after purchasing an additional 200,183 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of CoStar Group by 11.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock valued at $312,000 after buying an additional 376 shares during the last quarter. Simplicity Solutions LLC lifted its position in shares of CoStar Group by 5.7% in the fourth quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock valued at $697,000 after buying an additional 431 shares during the last quarter. abrdn plc lifted its position in shares of CoStar Group by 69.8% in the fourth quarter. abrdn plc now owns 169,683 shares of the technology company’s stock valued at $14,829,000 after buying an additional 69,744 shares during the last quarter. Finally, Harbor Advisors LLC lifted its position in shares of CoStar Group by 69.6% in the fourth quarter. Harbor Advisors LLC now owns 17,060 shares of the technology company’s stock valued at $1,491,000 after buying an additional 7,000 shares during the last quarter. 96.60% of the stock is currently owned by 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.