CoStar Group, Inc. (NASDAQ:CSGP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $88.07.

CSGP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective for the company. William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Craig Hallum began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. Finally, Piper Sandler began coverage on CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating on the stock.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

Several large investors have recently bought and sold shares of CSGP. Colonial Trust Co SC raised its stake in shares of CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock worth $48,000 after buying an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP raised its position in CoStar Group by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock worth $2,105,000 after acquiring an additional 146 shares during the last quarter. Allworth Financial LP raised its position in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after acquiring an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares in the last quarter. Finally, Moran Wealth Management LLC grew its position in shares of CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Down 1.0 %

Shares of CoStar Group stock opened at $79.31 on Friday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $76.96 and a 200-day simple moving average of $75.83. The stock has a market cap of $32.53 billion, a price-to-earnings ratio of 226.60 and a beta of 0.93. CoStar Group has a 12-month low of $68.26 and a 12-month high of $96.98.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. On average, equities analysts forecast that CoStar Group will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.