CoStar Group (NASDAQ:CSGP) PT Raised to $640.00 at B. Riley

CoStar Group (NASDAQ:CSGP) had its price objective increased by investment analysts at B. Riley from $610.00 to $640.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the technology company’s stock. B. Riley’s target price suggests a potential upside of 9.13% from the stock’s previous close.

Several other brokerages have also recently issued reports on CSGP. BidaskClub cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Thursday. SunTrust Banks raised their price objective on CoStar Group to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Needham & Company LLC raised their price objective on CoStar Group to $675.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. ValuEngine cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $638.80.

Shares of NASDAQ:CSGP traded down $1.64 on Monday, reaching $586.48. 5,815 shares of the company were exchanged, compared to its average volume of 283,492. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 79.20, a price-to-earnings-growth ratio of 4.33 and a beta of 1.36. CoStar Group has a 1-year low of $315.85 and a 1-year high of $639.41. The company has a 50-day moving average of $595.18 and a 200-day moving average of $558.55.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, July 23rd. The technology company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.22. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. The company had revenue of $343.76 million for the quarter, compared to analyst estimates of $336.71 million. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, analysts expect that CoStar Group will post 9.02 earnings per share for the current year.

In other CoStar Group news, CEO Andrew C. Florance sold 24,210 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $628.64, for a total value of $15,219,374.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Matthew Linnington sold 14,651 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.39, for a total value of $9,045,380.89. The disclosure for this sale can be found here. Insiders sold 45,794 shares of company stock worth $28,629,079 over the last quarter. 2.14% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of CoStar Group by 14.4% during the second quarter. BlackRock Inc. now owns 3,531,271 shares of the technology company’s stock valued at $1,956,536,000 after purchasing an additional 445,078 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of CoStar Group during the second quarter valued at about $146,377,000. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 42.4% during the second quarter. JPMorgan Chase & Co. now owns 828,447 shares of the technology company’s stock valued at $449,788,000 after purchasing an additional 246,705 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of CoStar Group by 280.9% during the second quarter. AQR Capital Management LLC now owns 116,427 shares of the technology company’s stock valued at $64,508,000 after purchasing an additional 85,860 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of CoStar Group by 21.7% during the second quarter. Baillie Gifford & Co. now owns 395,328 shares of the technology company’s stock valued at $219,035,000 after purchasing an additional 70,439 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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