CoStar Group, Inc. (NASDAQ:CSGP) Given Consensus Rating of “Moderate Buy” by Analysts

CoStar Group, Inc. (NASDAQ:CSGP) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $102.46.

Several research firms recently commented on CSGP. Citigroup raised their price target on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Bank of America upped their price target on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research report on Friday, April 12th. Robert W. Baird boosted their price objective on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, The Goldman Sachs Group increased their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th.

Insider Activity

In other news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares in the company, valued at approximately $5,938,942.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The disclosure for this sale can be found here. Company insiders own 1.58% of the company’s stock.

Institutional Trading of CoStar Group

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Riverview Trust Co bought a new position in CoStar Group in the 1st quarter worth approximately $35,000. Pinnacle Bancorp Inc. acquired a new stake in CoStar Group in the 4th quarter valued at approximately $37,000. RiverPark Advisors LLC acquired a new stake in CoStar Group in the 1st quarter valued at approximately $37,000. Finally, Connectus Wealth LLC raised its stake in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after acquiring an additional 467,534 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CSGP opened at $92.46 on Wednesday. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The company’s 50 day simple moving average is $90.90 and its 200 day simple moving average is $85.44. The stock has a market capitalization of $37.76 billion, a PE ratio of 126.66, a P/E/G ratio of 10.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. During the same period in the previous year, the company earned $0.35 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that CoStar Group will post 0.45 EPS for the current year.

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.