CoStar Group’s (CSGP) “Buy” Rating Reiterated at Needham & Company LLC

CoStar Group (NASDAQ:CSGP)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $100.00 target price on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 36.33% from the company’s previous close.

Several other analysts have also weighed in on CSGP. BMO Capital Markets lowered their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Robert W. Baird decreased their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Citigroup decreased their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. 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 note on Wednesday, October 23rd. Finally, Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Up 2.9 %

Shares of NASDAQ CSGP opened at $73.35 on Tuesday. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38. The firm has a market cap of $30.07 billion, a price-to-earnings ratio of 166.71 and a beta of 0.82. 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 stock’s 50-day simple moving average is $75.70 and its 200-day simple moving average is $77.21.

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

Insider Buying and Selling at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of 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 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CoStar Group

A number of hedge funds have recently bought and sold shares of CSGP. Crewe Advisors LLC bought a new stake in CoStar Group during the first quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new stake in CoStar Group during the third quarter valued at about $40,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group during the second quarter valued at about $49,000. Quarry LP bought a new stake in CoStar Group during the second quarter valued at about $54,000. Finally, Covestor Ltd raised its position in shares of CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after buying an additional 211 shares during the last quarter. 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.