CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) has been given an average rating of "Moderate Buy" by the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $93.25.
CSGP has been the subject of a number of research analyst reports. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a research note on Monday, June 16th. Keefe, Bruyette & Woods lifted their price target on shares of CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Bank of America initiated coverage on shares of CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 price target for the company. Finally, William Blair reiterated an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd.
Check Out Our Latest Stock Analysis on CSGP
CoStar Group Stock Down 0.6%
CoStar Group stock traded down $0.59 during trading hours on Friday, hitting $94.60. The stock had a trading volume of 2,841,243 shares, compared to its average volume of 2,836,619. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $40.08 billion, a P/E ratio of 378.40, a price-to-earnings-growth ratio of 4.64 and a beta of 0.89. CoStar Group has a 12-month low of $68.26 and a 12-month high of $97.15. The stock's 50-day moving average price is $82.75 and its 200-day moving average price is $79.01.
CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business had revenue of $781.30 million during the quarter, compared to analysts' expectations of $772.06 million. During the same period in the previous year, the company earned $0.15 earnings per share. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that CoStar Group will post 0.94 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the transaction, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. This trade represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.09% of the company's stock.
Hedge Funds Weigh In On CoStar Group
Several hedge funds have recently modified their holdings of CSGP. Mizuho Markets Americas LLC purchased a new position in shares of CoStar Group in the first quarter worth $586,403,000. Capital International Investors raised its stake in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after purchasing an additional 4,345,267 shares in the last quarter. Vanguard Group Inc. raised its stake in CoStar Group by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after purchasing an additional 2,709,320 shares in the last quarter. Third Point LLC purchased a new stake in CoStar Group during the first quarter valued at $156,479,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in CoStar Group by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock valued at $459,314,000 after purchasing an additional 1,267,263 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.
CoStar Group Company Profile
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Get Free ReportCoStar 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.
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