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

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have received an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $93.25.

CSGP has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Citigroup cut their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Monday, December 9th.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $72.95 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a market capitalization of $29.91 billion, a price-to-earnings ratio of 165.80 and a beta of 0.83. The business has a 50-day moving average of $75.87 and a 200-day moving average of $75.66.

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, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during 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%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. On average, equities analysts anticipate that CoStar Group will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $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.

Hedge Funds Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management boosted its stake in CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after purchasing an additional 135 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after buying an additional 138 shares during the last quarter. Moran Wealth Management LLC boosted its position in shares of CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after buying an additional 161 shares during the period. Elo Mutual Pension Insurance Co grew its holdings in CoStar Group by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after acquiring an additional 209 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.