CoStar Group (NASDAQ:CSGP) Given New $98.00 Price Target at Needham & Company LLC

CoStar Group (NASDAQ:CSGP - Free Report) had its price target hoisted by Needham & Company LLC from $87.00 to $98.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

CSGP has been the topic of a number of other research reports. Stephens reiterated an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, February 19th. Finally, Piper Sandler started coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.31.

CoStar Group Trading Up 1.8 %

Shares of NASDAQ:CSGP traded up $1.38 during trading on Wednesday, reaching $77.96. The stock had a trading volume of 3,252,954 shares, compared to its average volume of 2,819,496. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The stock has a market cap of $31.97 billion, a P/E ratio of 222.74 and a beta of 0.88. The business has a fifty day moving average price of $78.28 and a 200-day moving average price of $76.23. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $92.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. As a group, analysts anticipate that CoStar Group will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated 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 $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.57% of the stock is owned by insiders.

Institutional Investors Weigh In On CoStar Group

Institutional investors have recently modified their holdings of the business. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group during the fourth quarter valued at approximately $25,000. Wayfinding Financial LLC acquired a new position in CoStar Group during the 1st quarter valued at approximately $29,000. ORG Partners LLC grew its stake in CoStar Group by 534.8% during 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. SBI Securities Co. Ltd. acquired a new stake in CoStar Group in the fourth quarter worth $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group in the fourth quarter valued at $32,000. Institutional investors own 96.60% of the company's stock.

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.