Analysts Set CoStar Group, Inc. (NASDAQ:CSGP) PT at $93.25

CoStar Group, Inc. (NASDAQ:CSGP) has received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $93.25.

A number of equities research analysts have weighed in on the company. Citigroup cut their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. BMO Capital Markets decreased their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th.

Insider Buying and Selling at CoStar Group

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

Institutional Investors Weigh In On CoStar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Tidal Investments LLC raised its holdings in shares of CoStar Group by 292.0% during the third quarter. Tidal Investments LLC now owns 73,184 shares of the technology company’s stock worth $5,521,000 after acquiring an additional 54,515 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CoStar Group in the 3rd quarter worth about $256,000. Coldstream Capital Management Inc. raised its stake in shares of CoStar Group by 6.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,370 shares of the technology company’s stock worth $481,000 after purchasing an additional 391 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after buying an additional 236,407 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its stake in shares of CoStar Group by 7,715.2% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,158 shares of the technology company’s stock valued at $389,000 after buying an additional 5,092 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Up 1.8 %

NASDAQ:CSGP opened at $72.74 on Thursday. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38. The business has a fifty day moving average of $76.16 and a 200-day moving average of $75.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock has a market cap of $29.82 billion, a price-to-earnings ratio of 165.32 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last released its 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 analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Equities analysts predict that CoStar Group will post 0.52 earnings per share for the current year.

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.