CoStar Group (NASDAQ:CSGP) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

CoStar Group (NASDAQ:CSGP) announced its earnings results on Monday. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02, MarketWatch Earnings reports. CoStar Group had a return on equity of 6.72% and a net margin of 12.68%. The firm had revenue of $499.32 million during the quarter, compared to analyst estimates of $497.97 million. During the same period last year, the firm posted $0.19 EPS. The business’s revenue was up 17.3% compared to the same quarter last year.

CSGP stock traded down $9.92 during mid-day trading on Wednesday, reaching $89.82. 3,639,171 shares of the company traded hands, compared to its average volume of 2,361,170. The company has a debt-to-equity ratio of 0.18, a current ratio of 11.62 and a quick ratio of 11.62. The company has a market capitalization of $35.47 billion, a P/E ratio of 153.02, a P/E/G ratio of 4.82 and a beta of 0.88. CoStar Group has a 52-week low of $74.31 and a 52-week high of $101.05. The company has a fifty day moving average price of $86.81 and a 200-day moving average price of $54.02.

CSGP has been the subject of several recent research reports. Truist Securities lifted their price objective on CoStar Group from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Truist lifted their price objective on CoStar Group from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research raised CoStar Group from a “sell” rating to a “hold” rating in a report on Friday, July 9th. Robert W. Baird lifted their price objective on CoStar Group from $100.00 to $108.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Needham & Company LLC lifted their price objective on CoStar Group from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, CoStar Group currently has an average rating of “Buy” and an average price target of $60.19.

In other news, Director John W. Hill sold 6,160 shares of CoStar Group stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $85.77, for a total transaction of $528,343.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.36% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.

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Earnings History for CoStar Group (NASDAQ:CSGP)

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