CoStar Group, Inc. (CSGP) Given Consensus Recommendation of “Buy” by Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $313.67.

CSGP has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on CoStar Group from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 28th. B. Riley reissued a “buy” rating and issued a $325.00 price target on shares of CoStar Group in a report on Wednesday, July 19th. BidaskClub cut CoStar Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. SunTrust Banks, Inc. boosted their price target on CoStar Group from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research raised CoStar Group from a “hold” rating to a “buy” rating and set a $293.00 price target for the company in a report on Thursday, June 1st.

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Shares of CoStar Group (NASDAQ:CSGP) opened at 277.80 on Friday. The firm has a 50 day moving average price of $280.25 and a 200-day moving average price of $250.05. CoStar Group has a 52 week low of $179.22 and a 52 week high of $287.96. The firm has a market capitalization of $9.12 billion, a P/E ratio of 93.25 and a beta of 1.52.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The company had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $234.38 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities research analysts predict that CoStar Group will post $4.48 EPS for the current fiscal year.

In related news, Director Michael R. Klein sold 20,000 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $265.01, for a total value of $5,300,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew Linnington sold 1,767 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The disclosure for this sale can be found here. Corporate insiders own 2.98% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CSGP. Great West Life Assurance Co. Can increased its stake in CoStar Group by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 9,651 shares of the technology company’s stock valued at $1,998,000 after purchasing an additional 149 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in CoStar Group by 14.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,517 shares of the technology company’s stock valued at $314,000 after purchasing an additional 195 shares during the last quarter. Advisors Asset Management Inc. increased its stake in CoStar Group by 411.6% in the first quarter. Advisors Asset Management Inc. now owns 2,169 shares of the technology company’s stock valued at $449,000 after purchasing an additional 1,745 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in CoStar Group in the first quarter valued at $417,000. Finally, Daiwa Securities Group Inc. increased its stake in CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock valued at $186,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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