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

CoStar Group (NASDAQ:CSGP) posted its quarterly earnings data on Tuesday. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06, Briefing.com reports. The firm had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 4.01% and a net margin of 8.19%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS.

CoStar Group Price Performance

NASDAQ:CSGP opened at $76.35 on Thursday. CoStar Group has a 12 month low of $67.35 and a 12 month high of $100.38. The stock has a 50 day moving average of $77.19 and a two-hundred day moving average of $84.06. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a market cap of $31.18 billion, a P/E ratio of 104.59, a price-to-earnings-growth ratio of 13.02 and a beta of 0.81.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JMP Securities lowered their price target on CoStar Group from $110.00 to $90.00 and set a “market outperform” rating for the company in a research report on Wednesday. Jefferies Financial Group lifted their price target on CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Robert W. Baird lowered their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price target on shares of CoStar Group in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.08.

Insiders Place Their Bets

In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now owns 64,087 shares in the company, valued at $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

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.