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

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

A number of research analysts recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Monday. Citigroup decreased their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets cut their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th.

Insider Activity

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

Institutional Investors Weigh In On CoStar Group

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake 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 buying an additional 722,153 shares during the last quarter. Geode Capital Management LLC grew its holdings in CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after acquiring an additional 236,407 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 worth $453,534,000 after acquiring an additional 124,761 shares in the last quarter. Vulcan Value Partners LLC lifted its stake in shares of 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 purchasing an additional 1,961,917 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after purchasing an additional 76,916 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 3.2 %

CoStar Group stock opened at $70.77 on Thursday. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38. The stock has a market cap of $29.01 billion, a P/E ratio of 160.84 and a beta of 0.83. The company’s 50-day moving average price is $76.35 and its two-hundred day moving average price is $75.86. 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 (NASDAQ:CSGP) last released its quarterly earnings results 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 net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period in the prior year, the company posted $0.25 earnings per share. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that CoStar Group will post 0.52 EPS for the current 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.