CoStar Group, Inc. (NASDAQ:CSGP) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $93.25.

Several analysts have commented on the stock. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Robert W. Baird dropped their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, BMO Capital Markets reduced their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th.

CoStar Group Price Performance

CSGP opened at $75.34 on Wednesday. The stock’s 50 day moving average price is $76.11 and its 200-day moving average price is $78.15. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The stock has a market capitalization of $30.89 billion, a PE ratio of 171.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

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

Insiders Place Their Bets

In other news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business’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 completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The shares were 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 directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CSGP. Wealth Enhancement Advisory Services LLC grew its position in CoStar Group by 25.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock worth $1,451,000 after purchasing an additional 3,008 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of CoStar Group in the first quarter worth $206,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in CoStar Group by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after acquiring an additional 17,658 shares during the last quarter. Norden Group LLC bought a new position in CoStar Group in the first quarter valued at about $1,504,000. Finally, First Trust Direct Indexing L.P. boosted its position in CoStar Group by 33.3% in the first quarter. First Trust Direct Indexing L.P. now owns 9,825 shares of the technology company’s stock worth $949,000 after purchasing an additional 2,457 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.