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

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

CoStar Group Trading Down 0.6 %

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

Analyst Ratings Changes

A number of research firms recently weighed in on CSGP. JPMorgan Chase & Co. increased their price target on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. JMP Securities restated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Bank of America reduced their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.85.

About CoStar Group

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.