CoStar Group (NASDAQ:CSGP) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

by · The Markets Daily

CoStar Group (NASDAQ:CSGP – Get Free Report) posted its quarterly earnings data on Tuesday. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year.

CoStar Group Stock Performance

CSGP traded up $1.09 during trading on Thursday, hitting $73.91. The stock had a trading volume of 7,867,046 shares, compared to its average volume of 2,339,765. 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 firm has a market cap of $30.29 billion, a price-to-earnings ratio of 167.98 and a beta of 0.81. The company has a 50 day moving average price of $76.46 and a 200-day moving average price of $79.20. CoStar Group has a one year low of $67.35 and a one year high of $100.38.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CSGP. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Needham & Company LLC lowered their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Bank of America dropped their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.62.

Read Our Latest Stock Analysis on CoStar Group

CoStar Group Company Profile

(Get Free Report)

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.

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