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

CoStar Group (NASDAQ:CSGP) released its quarterly earnings results on Tuesday. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22, Zacks reports. CoStar Group had a return on equity of 3.13% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

CoStar Group Trading Down 0.8 %

Shares of NASDAQ CSGP opened at $78.60 on Thursday. The stock has a market cap of $32.22 billion, a P/E ratio of 225.91 and a beta of 0.87. The firm has a 50 day moving average price of $73.82 and a two-hundred day moving average price of $75.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday. Wells Fargo & Company decreased their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

Insider Activity

In related news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.57% of the stock is owned by company insiders.

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 outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.