CoStar Group (NASDAQ:CSGP) Posts Earnings Results, Beats Expectations By $0.04 EPS

CoStar Group (NASDAQ:CSGP) posted its earnings results on Tuesday. The technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04, FiscalAI reports. CoStar Group had a return on equity of 3.74% and a net margin of 2.08%. The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $945.82 million.

CoStar Group Stock Performance

Shares of CSGP traded down $1.69 during mid-day trading on Tuesday, hitting $32.01. 6,561,580 shares of the company’s stock were exchanged, compared to its average volume of 6,992,647. CoStar Group has a 52 week low of $25.89 and a 52 week high of $78.95. The stock’s 50-day simple moving average is $30.52 and its 200-day simple moving average is $37.73. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 168.48, a price-to-earnings-growth ratio of 0.86 and a beta of 0.80. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CSGP shares. KeyCorp set a $33.00 price target on CoStar Group in a report on Monday, August 24th. Wall Street Zen lowered CoStar Group from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Royal Bank Of Canada set a $34.00 price objective on CoStar Group and gave the stock a “sector perform” rating in a research report on Monday, July 13th. Wolfe Research reissued an “outperform” rating and set a $32.00 target price (down from $35.00) on shares of CoStar Group in a report on Wednesday, July 29th. Finally, Robert W. Baird set a $34.00 target price on CoStar Group and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.11.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 4,788 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $30.78, for a total transaction of $147,374.64. Following the sale, the chief accounting officer owned 18,822 shares of the company’s stock, valued at $579,341.16. This represents a 20.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew C. Florance acquired 83,300 shares of the stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $29.89 per share, for a total transaction of $2,489,837.00. Following the purchase, the chief executive officer owned 1,806,165 shares in the company, valued at approximately $53,986,271.85. This trade represents a 4.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.18% of the stock is currently owned by insiders.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics, and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes, and distributes property and market data to real estate professionals, investors, lenders, and other businesses.

Its brands and services include CoStar, which offers commercial real estate data and research; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.