CoStar Group (NASDAQ:CSGP) Releases Earnings Results, Beats Expectations By $0.20 EPS

CoStar Group (NASDAQ:CSGP) announced its quarterly earnings data on Tuesday. The technology company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.20, RTT News reports. CoStar Group had a net margin of 23.17% and a return on equity of 10.55%. The business had revenue of $374.73 million during the quarter, compared to the consensus estimate of $364.28 million. During the same quarter in the prior year, the firm earned $2.81 EPS. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year.

NASDAQ CSGP traded down $8.69 on Tuesday, hitting $698.25. The stock had a trading volume of 492,586 shares, compared to its average volume of 256,599. CoStar Group has a one year low of $403.87 and a one year high of $746.70. The stock has a market cap of $26.24 billion, a price-to-earnings ratio of 82.15, a P/E/G ratio of 5.45 and a beta of 1.35. The company’s 50-day moving average is $672.38 and its two-hundred day moving average is $612.82.

A number of brokerages recently weighed in on CSGP. Wells Fargo & Co reaffirmed a “buy” rating on shares of CoStar Group in a research report on Monday, December 9th. Citigroup boosted their price objective on shares of CoStar Group from $750.00 to $840.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Zacks Investment Research raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. B. Riley boosted their price objective on shares of CoStar Group from $640.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group started coverage on shares of CoStar Group in a research report on Wednesday, November 27th. They set a “hold” rating and a $601.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $679.33.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Earnings History for CoStar Group (NASDAQ:CSGP)

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