CoStar Group (NASDAQ:CSGP) Given Market Outperform Rating at JMP Securities

CoStar Group (NASDAQ:CSGP)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report released on Monday,Benzinga reports. They presently have a $90.00 price target on the technology company’s stock. JMP Securities’ price target would suggest a potential upside of 20.03% from the company’s previous close.

Several other brokerages have also issued reports on CSGP. BMO Capital Markets cut 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 research report on Thursday, October 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Price Performance

Shares of CSGP stock traded down $0.09 during trading hours on Monday, reaching $74.98. The stock had a trading volume of 71,864 shares, compared to its average volume of 2,370,871. The stock’s fifty day simple moving average is $76.45 and its 200 day simple moving average is $75.95. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.74 billion, a PE ratio of 170.41 and a beta of 0.83. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data 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. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts predict that CoStar Group will post 0.52 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael R. Klein sold 71,633 shares of the 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoStar Group

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

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.