CoStar Group, Inc. (NASDAQ:CSGP) announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23, Briefing.com reports. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The firm had revenue of $237.20 million for the quarter, compared to analysts’ expectations of $234.38 million. During the same period in the prior year, the business posted $0.91 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. CoStar Group updated its Q3 guidance to $1.09-$1.15 EPS and its FY17 guidance to $4.42-$4.52 EPS.
CoStar Group (NASDAQ:CSGP) traded down 0.11% on Friday, hitting $274.73. The company had a trading volume of 131,427 shares. CoStar Group has a one year low of $179.21 and a one year high of $284.47. The stock’s 50-day moving average price is $268.24 and its 200 day moving average price is $233.08. The company has a market capitalization of $9.02 billion, a P/E ratio of 92.22 and a beta of 1.51.
A number of analysts have weighed in on the company. Citigroup Inc. set a $320.00 price target on CoStar Group and gave the company a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “buy” rating and set a $293.00 price target on the stock in a research report on Thursday, June 1st. B. Riley reiterated a “buy” rating and issued a $325.00 price target on shares of CoStar Group in a research report on Wednesday, July 19th. Finally, SunTrust Banks, Inc. upped their price target on CoStar Group from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 5th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. CoStar Group has an average rating of “Buy” and a consensus price target of $309.50.
In related news, Director Michael R. Klein sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $265.01, for a total value of $5,300,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Matthew Linnington sold 1,767 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The disclosure for this sale can be found here. 2.98% of the stock is currently owned by corporate insiders.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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