CoStar Group (NASDAQ:CSGP) Given “Sector Perform” Rating at Royal Bank of Canada

CoStar Group (NASDAQ:CSGP)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a research note issued to investors on Friday,Benzinga reports. They presently have a $83.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.88% from the company’s previous close.

Several other equities research analysts also recently weighed in on CSGP. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. JPMorgan Chase & Co. cut their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, William Blair restated an “outperform” rating on shares of CoStar Group in a research note on Monday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Trading Down 2.1 %

NASDAQ:CSGP traded down $1.52 during mid-day trading on Friday, hitting $69.82. 898,935 shares of the company’s stock were exchanged, compared to its average volume of 1,894,720. The company has a 50 day simple moving average of $75.09 and a 200-day simple moving average of $75.43. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The firm has a market capitalization of $28.62 billion, a P/E ratio of 158.69 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during 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 business’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. As a group, research analysts expect that CoStar Group will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, 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 document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

Institutional Trading of CoStar Group

A number of hedge funds have recently bought and sold shares of CSGP. ORG Partners LLC lifted its position in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in CoStar Group in the 3rd quarter worth approximately $40,000. Quarry LP bought a new stake in CoStar Group in the 2nd quarter worth approximately $54,000. Brooklyn Investment Group purchased a new position in CoStar Group in the 3rd quarter worth approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in CoStar Group in the 2nd quarter worth approximately $104,000. Institutional investors own 96.60% of the company’s stock.

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.