CoStar Group (NASDAQ:CSGP) Given Sector Perform Rating at Royal Bank Of Canada

Key Points

• CoStar Group's stock has been given a "sector perform" rating by Royal Bank Of Canada with a price objective of $91.00, indicating a potential upside of 16.72% from its previous close.
• Analysts have mixed ratings for CoStar Group, with one strong buy, twelve buy, five hold, and one sell, averaging to a "Moderate Buy" rating and a target price of $94.15.
• In Q2, CoStar Group reported earnings of $0.17 per share, exceeding expectations, with a year-over-year revenue increase of 15.2% to $781.30 million.

CoStar Group (NASDAQ:CSGP - Get Free Report)'s stock had its "sector perform" rating restated by Royal Bank Of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $91.00 price objective on the technology company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 16.72% from the company's previous close.

Other equities analysts also recently issued reports about the company. Needham & Company LLC raised their price objective on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c-)" rating on shares of CoStar Group in a report on Wednesday. Robert W. Baird raised their price target on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. BTIG Research initiated coverage on shares of CoStar Group in a report on Friday, October 3rd. They set a "neutral" rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.15.

CoStar Group Price Performance

CSGP traded down $1.03 during midday trading on Thursday, reaching $77.97. 155,018 shares of the company's stock were exchanged, compared to its average volume of 3,090,301. CoStar Group has a 1-year low of $68.26 and a 1-year high of $97.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The business's 50-day moving average price is $88.31 and its 200 day moving average price is $82.85. The stock has a market capitalization of $33.03 billion, a PE ratio of 312.23, a P/E/G ratio of 3.71 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.CoStar Group's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. As a group, equities analysts anticipate that CoStar Group will post 0.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the transaction, the chief accounting officer owned 25,771 shares in the company, valued at $2,392,837.35. The trade was a 7.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $90.33, for a total transaction of $2,258,250.00. Following the completion of the sale, the insider owned 293,103 shares of the company's stock, valued at approximately $26,475,993.99. This trade represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,033 shares of company stock valued at $4,777,764 over the last three months. Insiders own 1.09% of the company's stock.

Institutional Trading of CoStar Group

A number of institutional investors have recently bought and sold shares of the stock. Wedmont Private Capital grew its stake in CoStar Group by 8.5% during the 3rd quarter. Wedmont Private Capital now owns 3,044 shares of the technology company's stock valued at $245,000 after purchasing an additional 238 shares during the last quarter. Czech National Bank boosted its position in CoStar Group by 4.3% in the third quarter. Czech National Bank now owns 107,599 shares of the technology company's stock valued at $9,078,000 after buying an additional 4,475 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in CoStar Group by 59.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 12,997 shares of the technology company's stock worth $1,097,000 after buying an additional 4,833 shares during the period. Oak Thistle LLC raised its position in CoStar Group by 310.6% during the 3rd quarter. Oak Thistle LLC now owns 17,714 shares of the technology company's stock worth $1,495,000 after buying an additional 13,400 shares during the last quarter. Finally, Red Spruce Capital LLC lifted its stake in CoStar Group by 10.3% during the 3rd quarter. Red Spruce Capital LLC now owns 24,090 shares of the technology company's stock valued at $2,032,000 after acquiring an additional 2,248 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.