CoStar Group (NASDAQ:CSGP) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a research note released on Monday,Benzinga reports. JMP Securities currently has a $90.00 target price on the technology company’s stock.

Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of 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. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. 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 stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. decreased 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Price Performance

CSGP stock opened at $70.77 on Monday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $29.01 billion, a P/E ratio of 160.84 and a beta of 0.83. The business has a 50 day simple moving average of $76.35 and a 200-day simple moving average of $75.86. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38.

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

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value 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 position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

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