CoStar Group (NASDAQ:CSGP) Now Covered by BTIG Research

Key Points

• CoStar Group (CSGP) has received a "neutral" rating from BTIG Research, while other analysts have assigned various target price increases, reflecting a generally positive outlook for the stock.
• The company reported earnings of $0.17 per share, exceeding expectations, and its revenue for the quarter increased by 15.2% year-over-year, totaling $781.30 million.
• Insider trading activity has been notable, with recent sales by executives, indicating a decrease in insider ownership and potential market signals.

Analysts at BTIG Research assumed coverage on shares of CoStar Group (NASDAQ:CSGP - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set a "neutral" rating on the technology company's stock.

Several other research firms have also weighed in on CSGP. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 target price on the stock in a report on Monday, June 16th. JPMorgan Chase & Co. increased their price objective on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. BMO Capital Markets boosted their target price on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Robert W. Baird upped their target price on CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 price target (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, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $94.15.

CoStar Group Stock Up 0.5%

CSGP opened at $83.90 on Friday. The company has a market capitalization of $35.54 billion, a PE ratio of 335.60, a price-to-earnings-growth ratio of 3.84 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The business has a 50-day moving average of $89.36 and a 200-day moving average of $82.78.

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

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the sale, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at $2,392,837.35. This represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was 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 in the company, valued at $26,475,993.99. This represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock valued at $4,777,764 over the last three months. 1.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoStar Group

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in CoStar Group by 0.6% during the second quarter. Vanguard Group Inc. now owns 68,847,483 shares of the technology company's stock worth $5,535,338,000 after buying an additional 420,772 shares in the last quarter. Bamco Inc. NY lifted its position in shares of CoStar Group by 3.4% in the 2nd quarter. Bamco Inc. NY now owns 19,679,935 shares of the technology company's stock worth $1,582,267,000 after acquiring an additional 647,413 shares during the period. State Street Corp grew its holdings in shares of CoStar Group by 0.9% during the 2nd quarter. State Street Corp now owns 17,732,968 shares of the technology company's stock worth $1,425,731,000 after purchasing an additional 158,539 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CoStar Group by 2.4% during the second quarter. Geode Capital Management LLC now owns 12,357,840 shares of the technology company's stock valued at $989,905,000 after purchasing an additional 290,404 shares during the period. Finally, Baillie Gifford & Co. increased its position in shares of CoStar Group by 6.6% during the first quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company's stock valued at $668,400,000 after purchasing an additional 524,601 shares during the period. 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.