CoStar Group (NASDAQ:CSGP) Announces Earnings Results

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

CoStar Group Stock Down 0.8 %

Shares of CoStar Group stock opened at $78.60 on Thursday. The business has a 50-day moving average of $73.82 and a 200-day moving average of $75.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company has a market capitalization of $32.22 billion, a PE ratio of 225.91 and a beta of 0.87. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38.

CoStar Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the 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 transaction, the insider now owns 58,798 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Stephens reissued an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday. Finally, Needham & Company LLC dropped their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday. Two investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $88.15.

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.