CoStar Group, Inc. (NASDAQ:CSGP) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $93.08.

A number of analysts have commented on CSGP shares. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Citigroup lowered their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective 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. BMO Capital Markets decreased their target price 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th.

CoStar Group Trading Down 2.1 %

Shares of CoStar Group stock opened at $69.87 on Monday. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38. The company’s fifty day simple moving average is $75.04 and its 200-day simple moving average is $75.42. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 158.80 and a beta of 0.85. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was 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 corporate insiders.

Hedge Funds Weigh In On CoStar Group

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. ORG Partners LLC raised its holdings in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the third quarter worth $40,000. Quarry LP acquired a new stake in shares of CoStar Group during the second quarter worth $54,000. Brooklyn Investment Group bought a new stake in CoStar Group in the 3rd quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in CoStar Group in the 2nd quarter worth $104,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

About CoStar Group

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.