CoStar Group, Inc. (NASDAQ:CSGP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CoStar Group, Inc. (NASDAQ:CSGP) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $93.25.

Several brokerages recently commented on CSGP. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup reduced their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd.

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CoStar Group

A number of hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares during the period. Janus Henderson Group PLC increased its position in CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Geode Capital Management LLC increased its holdings in CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after buying an additional 236,407 shares during the period. Bank of New York Mellon Corp increased its holdings in CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after buying an additional 124,761 shares during the period. Finally, Vulcan Value Partners LLC increased its holdings in CoStar Group by 90.1% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after buying an additional 1,961,917 shares during the period. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Up 2.6 %

Shares of CSGP stock opened at $81.97 on Friday. The firm has a fifty day moving average of $75.78 and a 200-day moving average of $76.71. 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 12-month low of $68.26 and a 12-month high of $100.38. The company has a market capitalization of $33.60 billion, a price-to-earnings ratio of 186.30 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping 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 business 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 posted $0.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts predict that CoStar Group will post 0.52 earnings per share for the current fiscal year.

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.