CoStar Group (NASDAQ:CSGP) Issues Earnings Results

CoStar Group (NASDAQ:CSGP) issued its quarterly earnings results on Tuesday. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06, Briefing.com reports. CoStar Group had a return on equity of 4.01% and a net margin of 8.19%. The company had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. During the same period in the previous year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis.

CoStar Group Price Performance

CoStar Group stock traded up $1.49 on Thursday, reaching $77.84. The company’s stock had a trading volume of 3,764,460 shares, compared to its average volume of 2,325,729. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a market cap of $31.79 billion, a price-to-earnings ratio of 107.01, a PEG ratio of 13.02 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The business’s fifty day moving average price is $77.19 and its 200 day moving average price is $84.06.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $105.00 price objective on shares of CoStar Group in a research report on Wednesday, April 24th. JMP Securities decreased their target price on CoStar Group from $110.00 to $90.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Royal Bank of Canada cut their price target on CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, BMO Capital Markets boosted their price objective on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.08.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the sale, the insider now owns 64,087 shares in the company, valued at $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

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.