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Earnings Estimates Moving Higher for CoStar Group (CSGP): Time to Buy?

CoStar Group Inc.CSGP is a provider of information services to the commercial real estate industry that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CSGP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that CoStar Group could be a solid choice for investors.

Current Quarter Estimates for CSGP

In the past 30 days, 3 estimates have gone higher for CoStar Group while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 56 cents a share 30 days ago, to 64 today, a move of 14.3%.

Current Year Estimates for CSGP                                 

Meanwhile, CoStar Group’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.93 per share 30 days ago to $3.36 per share today, an increase of 14.7%.

Bottom Line

The stock has also started to move higher lately, adding 11.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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COSTAR GRP INC (CSGP): Free Stock Analysis Report
 
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