CoStar Group (NASDAQ:CSGP) Posts Earnings Results, Hits Estimates

CoStar Group (NASDAQ:CSGP - Get Free Report) posted its quarterly earnings data 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 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

CoStar Group Price Performance

CSGP traded down $1.54 on Friday, hitting $76.79. 4,667,016 shares of the stock were exchanged, compared to its average volume of 2,816,777. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38. The business has a 50-day moving average of $73.83 and a two-hundred day moving average of $75.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm has a market capitalization of $31.48 billion, a price-to-earnings ratio of 219.40 and a beta of 0.87.

CoStar Group announced that its board has authorized a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company's stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a report on Tuesday, January 28th. JMP Securities restated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Finally, Citigroup lowered their target price on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

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.