CoStar Group, Inc. (NASDAQ:CSGP) Given Average Rating of “Moderate Buy” by Brokerages

CoStar Group, Inc. (NASDAQ:CSGP) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $93.25.

Several research analysts have recently weighed in on CSGP shares. JPMorgan Chase & Co. lowered their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. BMO Capital Markets cut their target price on 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. Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on 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 sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The shares were acquired 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 $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 institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the 3rd quarter valued at approximately $40,000. Swedbank AB purchased a new position in shares of CoStar Group during the 1st quarter worth $4,223,000. Gateway Investment Advisers LLC lifted its stake in shares of CoStar Group by 31.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock worth $3,005,000 after purchasing an additional 9,618 shares during the period. First Hawaiian Bank lifted its stake in shares of CoStar Group by 111.9% during the 2nd quarter. First Hawaiian Bank now owns 16,726 shares of the technology company’s stock worth $1,240,000 after purchasing an additional 8,833 shares during the period. Finally, Telemark Asset Management LLC lifted its stake in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 150,000 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Up 3.6 %

CSGP stock opened at $79.81 on Friday. The stock has a market cap of $32.72 billion, a price-to-earnings ratio of 181.39 and a beta of 0.82. The business’s 50-day moving average is $75.49 and its 200 day moving average is $76.88. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. 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 issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. On average, sell-side analysts anticipate that CoStar Group will post 0.52 EPS for the current fiscal year.

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.