Brokerages Set CoStar Group, Inc. (NASDAQ:CSGP) Price Target at $93.25

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have received a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $93.25.

A number of brokerages have recently issued reports on CSGP. Citigroup cut their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. BMO Capital Markets lowered their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a report on Tuesday, November 19th.

CoStar Group Stock Down 0.4 %

CSGP opened at $79.92 on Friday. CoStar Group has a one year low of $68.26 and a one year high of $100.38. 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 fifty day moving average is $75.62 and its 200-day moving average is $76.64. The company has a market capitalization of $32.76 billion, a PE ratio of 181.64 and a beta of 0.82.

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

Insider Buying and Selling at CoStar Group

In related news, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated 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 sale, the director now 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On CoStar Group

Several large investors have recently made changes to their positions in CSGP. Vulcan Value Partners LLC raised 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 acquiring an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC raised its holdings in CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares in the last quarter. Barclays PLC raised its holdings in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares in the last quarter. Select Equity Group L.P. acquired a new position in CoStar Group in the 2nd quarter valued at approximately $60,761,000. Finally, State Street Corp raised its holdings in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. 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.