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

CoStar Group (NASDAQ:CSGP) released its earnings results on Tuesday. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate 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 business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year.

CoStar Group Trading Down 0.6 %

NASDAQ:CSGP opened at $76.87 on Wednesday. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The business has a fifty day moving average price of $76.47 and a 200-day moving average price of $79.24. The firm 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 debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27.

Analysts Set New Price Targets

Several analysts recently commented on CSGP shares. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Robert W. Baird reduced their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group lowered their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. Finally, Bank of America lowered their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.85.

CoStar Group Company Profile

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.