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

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat 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 12-month price target among brokers that have issued ratings on the stock in the last year is $93.25.

Several analysts have issued reports on the company. BMO Capital Markets dropped their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Bank of America decreased their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th.

Insider Buying and Selling

In other news, Director Michael R. Klein sold 71,633 shares of the firm’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 value of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated 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 transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CoStar Group

Large investors have recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in CoStar Group during the 1st quarter worth $31,000. RiverPark Advisors LLC bought a new position in CoStar Group during the first quarter worth about $37,000. Industrial Alliance Investment Management Inc. acquired a new stake in CoStar Group in the 2nd quarter worth about $49,000. Quarry LP bought a new stake in CoStar Group in the 2nd quarter valued at about $54,000. Finally, Covestor Ltd increased its holdings in shares of CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Down 0.4 %

NASDAQ:CSGP opened at $72.50 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The business’s 50-day simple moving average is $76.22 and its 200-day simple moving average is $78.29. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market capitalization of $29.72 billion, a PE ratio of 164.78 and a beta of 0.82.

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 the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts expect that CoStar Group will post 0.52 earnings per share 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.