CoStar Group's (CSGP) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• CoStar Group's stock rating has been reaffirmed as "Hold (C-)" by Weiss Ratings, highlighting the company's current market evaluation amid varying analyst opinions.
• Analysts have significantly raised their price targets for CoStar Group, with projections now ranging from $91.00 to $100.00, indicating a positive outlook for the company's performance.
• The company reported earnings of $0.17 per share for the last quarter, exceeding estimates and reflecting a 15.2% year-over-year revenue growth, with revenue hitting $781.30 million.

CoStar Group (NASDAQ:CSGP - Get Free Report)'s stock had its "hold (c-)" rating reissued by research analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued a "sector perform" rating and set a $91.00 price target on shares of CoStar Group in a research report on Thursday, October 9th. Citigroup boosted their price target on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

CoStar Group Trading Up 0.3%

Shares of NASDAQ:CSGP traded up $0.23 during midday trading on Friday, hitting $77.89. The company had a trading volume of 2,142,406 shares, compared to its average volume of 2,881,376. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group has a 12 month low of $68.41 and a 12 month high of $97.43. The firm has a fifty day simple moving average of $84.24 and a 200 day simple moving average of $82.68. The stock has a market cap of $33.00 billion, a price-to-earnings ratio of 311.56, a PEG ratio of 3.65 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The firm had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The company's quarterly revenue was up 15.2% on a year-over-year basis. On average, analysts predict that CoStar Group will post 0.94 EPS for the current year.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the sale, the chief accounting officer owned 25,771 shares of the company's stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the completion of the sale, the insider owned 319,539 shares in the company, valued at approximately $29,790,620.97. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,033 shares of company stock valued at $4,777,764. Corporate insiders own 1.09% of the company's stock.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rossby Financial LCC boosted its holdings in CoStar Group by 315.9% during the second quarter. Rossby Financial LCC now owns 341 shares of the technology company's stock worth $27,000 after purchasing an additional 259 shares during the last quarter. Wayfinding Financial LLC bought a new stake in CoStar Group during the 1st quarter worth about $29,000. Bayforest Capital Ltd bought a new stake in CoStar Group during the 1st quarter worth about $29,000. GKV Capital Management Co. Inc. acquired a new position in shares of CoStar Group during the 1st quarter worth about $31,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of CoStar Group in the 1st quarter valued at about $31,000. 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.

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