CoStar Group’s (CSGP) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a research note released on Monday morning,Benzinga reports. They currently have a $90.00 target price on the technology company’s stock.

A number of other equities analysts have also recently weighed in on CSGP. Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. Finally, BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Price Performance

Shares of CSGP stock opened at $70.77 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company has a market capitalization of $29.01 billion, a PE ratio of 160.84 and a beta of 0.83. The firm’s 50-day moving average is $76.35 and its two-hundred day moving average is $75.86. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38.

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

Insider Buying and Selling at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were 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 of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Picton Mahoney Asset Management raised its position in shares of CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after acquiring an additional 135 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares in the last quarter. Moran Wealth Management LLC lifted its position in shares of CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after buying an additional 161 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its position in shares of CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after buying an additional 209 shares in the last quarter. 96.60% of the stock is 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.