Analysts Set CoStar Group, Inc. (NASDAQ:CSGP) PT at $93.25

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $93.25.

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th.

Insider Activity at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Institutional Trading of CoStar Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in CoStar Group by 4.4% during the 3rd 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 increased its holdings in shares of CoStar Group by 2.1% in 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 lifted its position in 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 valued at $453,534,000 after purchasing an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC boosted its stake in CoStar Group by 90.1% during 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. boosted its stake in CoStar Group by 2.9% during 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. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

CoStar Group stock opened at $72.74 on Thursday. CoStar Group has a 1 year low of $68.26 and a 1 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 firm has a 50 day moving average price of $76.16 and a 200 day moving average price of $75.73. The company has a market cap of $29.82 billion, a price-to-earnings ratio of 165.32 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last released 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. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business 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 firm posted $0.25 EPS. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts predict that CoStar Group will post 0.52 earnings per share 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.