CoStar Group (NASDAQ:CSGP) Given “Buy” Rating at Needham & Company LLC

CoStar Group (NASDAQ:CSGP)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $100.00 price target on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 31.11% from the stock’s current price.

Several other equities research analysts have also issued reports on CSGP. JPMorgan Chase & Co. reduced their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets cut their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group cut their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Up 5.8 %

Shares of CoStar Group stock opened at $76.27 on Tuesday. The firm has a market cap of $31.27 billion, a price-to-earnings ratio of 173.34 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The stock has a 50-day simple moving average of $75.49 and a 200-day simple moving average of $77.07.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. On average, equities research analysts expect that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

Several institutional investors have recently modified their holdings of CSGP. Avantax Advisory Services Inc. acquired a new stake in shares of CoStar Group during the 1st quarter worth approximately $217,000. Intech Investment Management LLC grew its holdings in shares of CoStar Group by 56.6% during the 1st quarter. Intech Investment Management LLC now owns 4,889 shares of the technology company’s stock worth $472,000 after purchasing an additional 1,768 shares in the last quarter. Covestor Ltd grew its holdings in shares of CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in CoStar Group by 34.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,301 shares of the technology company’s stock valued at $1,478,000 after buying an additional 3,892 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in CoStar Group by 73.0% in the 1st quarter. Bessemer Group Inc. now owns 32,119 shares of the technology company’s stock valued at $3,102,000 after buying an additional 13,558 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.