CoStar Group (NASDAQ:CSGP) Given Market Outperform Rating at JMP Securities

CoStar Group (NASDAQ:CSGP - Get Free Report)'s stock had its "market outperform" rating reiterated by investment analysts at JMP Securities in a report issued on Wednesday,Benzinga reports. They currently have a $85.00 target price on the technology company's stock. JMP Securities' target price points to a potential upside of 10.25% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 target price on the stock. Piper Sandler initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating for the company. Finally, StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and an average price target of $88.31.

CoStar Group Stock Down 1.1 %

CoStar Group stock traded down $0.86 during mid-day trading on Wednesday, hitting $77.10. The company had a trading volume of 2,345,672 shares, compared to its average volume of 2,823,899. 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 $31.62 billion, a price-to-earnings ratio of 220.29 and a beta of 0.88. CoStar Group has a 1 year low of $68.26 and a 1 year high of $92.74. The business has a fifty day moving average of $78.28 and a 200 day moving average of $76.21.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, sell-side analysts expect 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 stock repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CSGP. Bamco Inc. NY increased its holdings in shares of CoStar Group by 2.2% during the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock worth $1,374,783,000 after purchasing an additional 418,128 shares during the period. Capital International Investors lifted its stake in CoStar Group by 44.9% in 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 buying an additional 4,345,267 shares during the period. Geode Capital Management LLC raised its position in shares of CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after purchasing an additional 166,769 shares during the period. Akre Capital Management LLC boosted its position in CoStar Group by 4.3% during the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock worth $666,781,000 after acquiring an additional 379,787 shares during the last quarter. Finally, Polen Capital Management LLC bought a new stake in shares of CoStar Group during the 4th quarter worth approximately $465,134,000. Hedge funds and other 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.