CoStar Group, Inc. (NASDAQ:CSGP) Given Average Rating of "Moderate Buy" by Analysts

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) has earned an average rating of "Moderate Buy" from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have given 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 $87.54.

A number of equities analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating for the company. JPMorgan Chase & Co. reduced their price target on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. William Blair started coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating on the stock. Bank of America assumed coverage on CoStar Group in a research note on Friday, May 30th. They set a "neutral" rating and a $79.00 target price for the company. Finally, Stephens reaffirmed an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its holdings in shares of CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after acquiring an additional 5,940 shares during the period. Allworth Financial LP increased its stake in shares of CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after purchasing an additional 173 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of CoStar Group by 6.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 482,712 shares of the technology company's stock valued at $34,190,000 after buying an additional 31,152 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after buying an additional 176 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group during the fourth quarter worth approximately $30,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Up 0.7%

CSGP traded up $0.58 during trading on Thursday, hitting $82.37. 2,928,522 shares of the company's stock were exchanged, compared to its average volume of 2,924,643. CoStar Group has a 1 year low of $68.26 and a 1 year high of $83.68. The stock has a 50 day moving average price of $77.13 and a 200 day moving average price of $76.37. The firm has a market cap of $34.75 billion, a P/E ratio of 235.34 and a beta of 0.87. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group declared that its board has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often 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.