CoStar Group (NASDAQ:CSGP) Releases Earnings Results, Beats Expectations By $0.06 EPS

CoStar Group (NASDAQ:CSGP) issued its quarterly earnings results on Tuesday. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. The company had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. CoStar Group’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share.

CoStar Group Trading Up 1.5 %

CSGP traded up $1.09 during trading on Thursday, reaching $73.91. 7,867,046 shares of the company’s stock were exchanged, compared to its average volume of 2,339,765. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The firm has a fifty day moving average price of $76.46 and a two-hundred day moving average price of $79.20. The stock has a market capitalization of $30.29 billion, a PE ratio of 167.98 and a beta of 0.81.

Analysts Set New Price Targets

CSGP has been the topic of several recent analyst reports. Needham & Company LLC decreased their target price on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America lowered their price objective 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. Robert W. Baird reduced their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Finally, Citigroup reduced their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.62.

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.