CoStar Group, Inc. (NASDAQ:CSGP) Receives $93.25 Average PT from Brokerages

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $93.25.

CSGP has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods reduced their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. The Goldman Sachs Group decreased their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Bank of America reduced their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd.

CoStar Group Stock Up 2.0 %

CSGP stock opened at $75.34 on Wednesday. The firm has a market capitalization of $30.89 billion, a PE ratio of 171.23 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38. The stock’s 50 day moving average is $76.11 and its 200-day moving average is $78.15.

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

Insider Buying and Selling

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The shares were 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 of the company’s stock, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their ownership of the stock. 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 bought and sold shares of the stock. ICICI Prudential Asset Management Co Ltd increased its stake in CoStar Group by 19.2% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 5,349 shares of the technology company’s stock worth $404,000 after purchasing an additional 862 shares during the period. Credit Capital Investments LLC increased its stake in shares of CoStar Group by 21.2% in the third quarter. Credit Capital Investments LLC now owns 4,000 shares of the technology company’s stock worth $302,000 after buying an additional 700 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of CoStar Group by 3.4% in the third quarter. Oppenheimer & Co. Inc. now owns 34,912 shares of the technology company’s stock worth $2,634,000 after buying an additional 1,150 shares during the period. Geneva Capital Management LLC raised its holdings in CoStar Group by 2.8% during the 3rd quarter. Geneva Capital Management LLC now owns 420,700 shares of the technology company’s stock valued at $31,738,000 after buying an additional 11,562 shares during the last quarter. Finally, American Assets Capital Advisers LLC purchased a new stake in CoStar Group during the 3rd quarter valued at $516,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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.