CoStar Group, Inc. (NASDAQ:CSGP) Receives $93.08 Average Price Target from Brokerages

CoStar Group, Inc. (NASDAQ:CSGP) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $92.92.

Several equities research analysts have recently issued reports on the company. Citigroup decreased their target price on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets lowered their price objective 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. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th.

CoStar Group Trading Up 0.6 %

Shares of CSGP stock opened at $73.85 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of 167.84 and a beta of 0.85. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a 50-day simple moving average of $74.67 and a two-hundred day simple moving average of $75.34.

CoStar Group (NASDAQ:CSGP) last announced its earnings results 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. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. Research analysts anticipate that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was 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 trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, 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. Insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Several hedge funds have recently bought and sold shares of the stock. ORG Partners LLC lifted its holdings in shares of 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 acquiring an additional 353 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CoStar Group during the third quarter valued at about $40,000. Quarry LP bought a new stake in CoStar Group during the second quarter worth about $54,000. Brooklyn Investment Group purchased a new position in shares of CoStar Group in the 3rd quarter worth about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group during the 2nd quarter valued at about $104,000. 96.60% of the stock is currently owned by institutional investors.

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.