JMP Securities Reiterates “Market Outperform” Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $90.00 price target on the technology company’s stock. JMP Securities’ price target indicates a potential upside of 23.07% from the company’s current price.

A number of other analysts have also weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. Citigroup lowered their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Down 2.8 %

CoStar Group stock opened at $73.13 on Monday. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38. The stock’s fifty day simple moving average is $76.45 and its 200-day simple moving average is $75.89. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $29.98 billion, a P/E ratio of 166.21 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts expect that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated 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 owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CoStar Group

Several hedge funds have recently made changes to their positions in the business. Picton Mahoney Asset Management boosted its stake in shares of CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after buying an additional 135 shares during the period. Bleakley Financial Group LLC raised its holdings in CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares in the last quarter. Moran Wealth Management LLC raised its holdings in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares in the last quarter. Elo Mutual Pension Insurance Co raised its holdings in CoStar Group by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after purchasing an additional 188 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 209 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.