CoStar Group (NASDAQ:CSGP) Sets New 52-Week High - Should You Buy?

Key Points

• CoStar Group's stock price reached a new 52-week high of $94.39 during trading, closing at $94.37 with a trading volume of 93,626 shares.
• Analysts maintain a consensus "Moderate Buy" rating for CoStar Group, backed by various target price increases from firms like JPMorgan and Citigroup.
• CoStar Group reported earnings per share (EPS) of $0.17, exceeding expectations, and noted a 15.2% increase in quarterly revenue year-over-year.

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $94.39 and last traded at $94.37, with a volume of 93626 shares. The stock had previously closed at $93.36.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Citigroup lifted their target price on shares of CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada lifted their target price on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Price Performance

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 firm's fifty day moving average price is $82.34 and its two-hundred day moving average price is $78.84. The stock has a market capitalization of $40.10 billion, a PE ratio of 378.00, a PEG ratio of 4.69 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the company earned $0.15 earnings per share. The firm's revenue was up 15.2% on a year-over-year basis. On average, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the sale, the insider directly owned 319,539 shares of the company's stock, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the company'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 sale, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by corporate insiders.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wayfinding Financial LLC bought a new position in shares of CoStar Group in the first quarter worth approximately $29,000. Bayforest Capital Ltd purchased a new stake in shares of CoStar Group in the first quarter worth $29,000. GKV Capital Management Co. Inc. purchased a new stake in shares of CoStar Group in the first quarter worth $31,000. Zions Bancorporation National Association UT purchased a new stake in shares of CoStar Group in the first quarter worth $31,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after purchasing an additional 235 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.