CoStar Group (NASDAQ:CSGP) Releases Earnings Results

CoStar Group (NASDAQ:CSGP) issued its quarterly earnings results on Tuesday. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06, Briefing.com reports. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS.

CoStar Group Price Performance

Shares of CSGP opened at $76.87 on Wednesday. The business has a 50-day moving average of $76.47 and a 200-day moving average of $79.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The company has a market capitalization of $31.50 billion, a price-to-earnings ratio of 145.04 and a beta of 0.81. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38.

Analyst Ratings Changes

Several brokerages have commented on CSGP. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $96.00 to $83.00 in a research note on Wednesday. Needham & Company LLC lowered their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, Bank of America cut their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $94.85.

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.