William Blair Reiterates “Outperform” Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reiterated by analysts at William Blair in a report issued on Monday,RTT News reports.

A number of other brokerages have also recently weighed in on CSGP. BMO Capital Markets cut 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. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup lowered 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 note on Thursday, October 24th. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Thursday, January 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.08.

CoStar Group Stock Down 1.2 %

CSGP stock opened at $70.36 on Monday. The stock has a market cap of $28.84 billion, a PE ratio of 159.91 and a beta of 0.85. The firm’s 50-day simple moving average is $75.16 and its 200 day simple moving average is $75.48. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts predict that CoStar Group will post 0.52 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through 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 sale, the insider now owns 58,798 shares of the company’s stock, 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. Corporate insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CSGP. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group in the 3rd quarter valued at approximately $40,000. Quarry LP acquired a new stake in CoStar Group in the second quarter valued at approximately $54,000. Brooklyn Investment Group bought a new stake in CoStar Group in the third quarter worth approximately $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of CoStar Group during the 2nd quarter worth $104,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after purchasing an additional 488 shares in 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.