CoStar Group
CSGP

$78.51

0.86%

Market Cap: 32.1B

About: CoStar Group is a leading provider of commercial real estate data and marketplace listing platforms. Its data offering contains in-depth analytical information on over 5 million commercial real estate properties related to various subsectors including office, retail, hotels, multifamily, healthcare, industrial, self-storage, and data centers. It operates many flagship brands such as CoStar Suite, LoopNet, Apartments.com, BizBuySell, and Lands of America, with more than 80% of its revenue classified as subscription-based. The company recently expanded its presence in Canada, the United Kingdom, Spain, and France.

Employees: 6,152

Industrials Business Services

0

Funds holding %

of 6,702 funds

0

Analysts bullish %

of 27 analysts

0

News positive %

of 14 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

162% more call options, than puts

Call options by funds: $137M | Put options by funds: $52.1M

32% more first-time investments, than exits

New positions opened: 87 | Existing positions closed: 66

12% more capital invested

Capital invested by funds: $34.4B [Q4 2023] → $38.6B (+$4.21B) [Q1 2024]

12% more repeat investments, than reductions

Existing positions increased: 289 | Existing positions reduced: 258

3% more funds holding

Funds holding: 714 [Q4 2023] → 735 (+21) [Q1 2024]

1.55% more ownership

Funds ownership: 96.49% [Q4 2023] → 98.04% (+1.55%) [Q1 2024]

4% less funds holding in top 10

Funds holding in top 10: 23 [Q4 2023] → 22 (-1) [Q1 2024]

See Fund Rankings

Research analyst outlook

27 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$79

1%

upside

Avg. target

$99

26%

upside

High target

$111

41%

upside

27 analyst ratings

23 positive

85%

4 neutral

15%

0 negative

0%

Baird Jeffrey Meuler	27%upside $100	Outperform Maintained	24 Jul 2024
RBC Capital Ashish Sabadra	22%upside $96	Outperform Maintained	24 Jul 2024
Goldman Sachs George Tong	18%upside $93	Buy Maintained	24 Jul 2024
JMP Securities Nicholas Jones	15%upside $90	Market Outperform Maintained	24 Jul 2024
Needham Mayank Tandon	36%upside $107	Buy Reiterated	24 Jul 2024

See Analyst Rankings

Financial journalist opinion

Based on 14 articles about CSGP published over the past 30 days

Zacks Investment Research

CoStar Group (CSGP) Q2 Earnings Beat Estimates, Revenues Up Y/Y

CoStar Group's (CSGP) second-quarter 2024 results reflect solid top-line growth, led by robust performance in key segments.

CoStar Group (CSGP) Q2 Earnings Beat Estimates, Revenues Up Y/Y

If I Had To Retire Today With 12 REITs

REITs are structured for income investors, obligated to pay out 90% of earnings to shareholders, making them an income-producing vehicle. REITs are undervalued and positioned to do well as the rate cut cycle debuts, making them an attractive sector to become overweight. A list of 12 handpicked REITs is provided, offering a combination of high dividend yields, dividend growth, and value for potential investors.

If I Had To Retire Today With 12 REITs

CoStar Group, Inc. (CSGP) Q2 2024 Earnings Call Transcript

CoStar Group, Inc. (NASDAQ:CSGP ) Q2 2024 Earnings Conference Call July 23, 2024 5:00 PM ET Company Participants Cyndi Eakin - Head, IR Andrew Florance - Founder and CEO Chris Lown - CFO Conference Call Participants Peter Christiansen - Citi Alexei Gogolev - JPMorgan George Tong - Goldman Sachs Heather Balsky - Bank of America Soham Bhonsle - BTIG Jeff Meuler - Baird John Campbell - Stephens Nick Jones - Citizens JMP Operator Good day everyone and thank you for standing by. Welcome to this Q2 2024 CoStar Group Earnings Call.

CoStar Group, Inc. (CSGP) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Compared to Estimates, CoStar (CSGP) Q2 Earnings: A Look at Key Metrics

While the top- and bottom-line numbers for CoStar (CSGP) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Compared to Estimates, CoStar (CSGP) Q2 Earnings: A Look at Key Metrics

Zacks Investment Research

CoStar Group (CSGP) Tops Q2 Earnings and Revenue Estimates

CoStar Group (CSGP) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.31 per share a year ago.

CoStar Group (CSGP) Tops Q2 Earnings and Revenue Estimates

CoStar Group Second Quarter 2024 Revenue Increased 12% Year-over-Year and Net New Bookings were $67 Million. CoStar Group Reaches a Record 183 Million Monthly Average Unique Visitors.

WASHINGTON--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended June 30, 2024 was $678 million, up 12% over revenue of $606 million for the quarter ended June 30, 2023. Net income was $19 million in the second quarter of 2024 and net income per diluted share was $0.05. “We achieved another strong quarter of results in terms of revenue, sale.

CoStar Group Second Quarter 2024 Revenue Increased 12% Year-over-Year and Net New Bookings were $67 Million. CoStar Group Reaches a Record 183 Million Monthly Average Unique Visitors.

Zacks Investment Research

CoStar Group (CSGP) to Post Q2 Earnings: What's in Store?

CoStar Group's (CSGP) second-quarter 2024 top line is likely to reflect a robust portfolio of marketplaces, which includes Apartments.com, LoopNet and Homes.com.

CoStar Group (CSGP) to Post Q2 Earnings: What's in Store?

3 Stocks to Buy to Capitalize on Surging Home Prices

Despite the latest report showing an easing of inflation, home prices continue to rise due to a lack of supply and high interest rates. Price increases have accelerated since February after a brief slowdown late last year.

3 Stocks to Buy to Capitalize on Surging Home Prices

CoStar Group Names Rich Simonelli Head of Investor Relations and Cyndi Eakin Chief Accounting Officer

WASHINGTON--(BUSINESS WIRE)--CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the appointment of Rich Simonelli as Head of Investor Relations and Cyndi Eakin as Chief Accounting Officer. Each will report to Chris Lown, Chief Financial Officer of CoStar Group. Simonelli, who previously held a similar role at CoStar Group for nine years, will rejoin the company from national real estate brokerag.

CoStar Group Names Rich Simonelli Head of Investor Relations and Cyndi Eakin Chief Accounting Officer

Why I Am Buying CoStar Group

I have started a ~3% position in CoStar at $71/share and would like to increase the position to ~5% if the stock goes down to ~$60. At current $25 Bn EV, the company is currently trading at ~20x NTM EV/EBITDA multiple. This is capex light business, so EBITDA can be considered a reasonable proxy for FCF here.

Why I Am Buying CoStar Group

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