CoStar Group, Inc. (NASDAQ:CSGP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $88.07.

A number of equities analysts recently commented on the company. JMP Securities restated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 price target for the company. The Goldman Sachs Group started coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Finally, Craig Hallum initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Colonial Trust Co SC raised its holdings in shares of CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after buying an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP raised its stake in CoStar Group by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock valued at $2,105,000 after acquiring an additional 146 shares during the last quarter. Allworth Financial LP lifted its position in CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after acquiring an additional 173 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares during the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP opened at $79.92 on Friday. The firm has a 50-day simple moving average of $77.29 and a two-hundred day simple moving average of $75.82. The stock has a market cap of $32.78 billion, a PE ratio of 228.34 and a beta of 0.93. CoStar Group has a 1-year low of $68.26 and a 1-year high of $95.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, analysts forecast that CoStar Group will post 0.94 EPS for the current year.

CoStar Group declared that its board has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.