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

CoStar Group (NASDAQ:CSGP) released its quarterly earnings results on Tuesday. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the company earned $0.25 EPS. CoStar Group’s revenue for the quarter was up 10.9% on a year-over-year basis.

CoStar Group Price Performance

Shares of CSGP opened at $73.91 on Friday. The stock has a market cap of $30.29 billion, a P/E ratio of 167.98 and a beta of 0.81. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The stock’s 50-day moving average price is $76.46 and its two-hundred day moving average price is $79.20. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CSGP. Citigroup decreased their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Needham & Company LLC reduced their target price on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird lowered their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.62.

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.