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

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

CoStar Group Trading Down 5.3 %

CSGP opened at $72.82 on Thursday. The stock’s fifty day moving average is $76.46 and its two-hundred day moving average is $79.20. The company has a market capitalization of $29.74 billion, a P/E ratio of 99.75 and a beta of 0.81. CoStar Group has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

Analyst Ratings Changes

A number of analysts recently commented on CSGP shares. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Needham & Company LLC dropped their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $96.00 to $83.00 in a research note on Wednesday. Finally, BMO Capital Markets lowered their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.15.

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.