CoStar Group (NASDAQ:CSGP) Earns “Sector Perform” Rating from Royal Bank of Canada

CoStar Group (NASDAQ:CSGP)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $83.00 price objective on the technology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 18.79% from the company’s current price.

Other research analysts have also issued reports about the company. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped their price target on 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, William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.08.

CoStar Group Stock Down 2.1 %

CoStar Group stock opened at $69.87 on Friday. 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’s 50-day moving average is $75.04 and its 200-day moving average is $75.40. The firm has a market capitalization of $28.64 billion, a PE ratio of 158.80 and a beta of 0.85. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm 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 business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Sell-side analysts anticipate that CoStar Group will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction that occurred on 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 approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently added to or reduced their stakes in the business. ORG Partners LLC boosted its stake in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in CoStar Group in the 3rd quarter valued at about $40,000. Quarry LP acquired a new position in CoStar Group during the 2nd quarter worth approximately $54,000. Brooklyn Investment Group bought a new position in CoStar Group in the third quarter worth approximately $91,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after purchasing an additional 488 shares during the period. 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.