CoStar Group (NASDAQ:CSGP) Announces Quarterly Earnings Results

CoStar Group (NASDAQ:CSGP) announced its quarterly earnings results on Tuesday. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22, Zacks reports. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $75.48 on Wednesday. The firm’s 50 day simple moving average is $73.81 and its 200-day simple moving average is $75.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a one year low of $68.26 and a one year high of $100.38. The firm has a market cap of $30.94 billion, a PE ratio of 171.54 and a beta of 0.87.

CoStar Group announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSGP. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Citigroup reduced their price objective on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $90.23.

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.