CoStar Group (CSGP) Downgraded by BidaskClub to Buy

BidaskClub lowered shares of CoStar Group (NASDAQ:CSGP) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Several other research firms have also issued reports on CSGP. ValuEngine raised shares of CoStar Group from a hold rating to a buy rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of CoStar Group from a hold rating to a buy rating and set a $415.00 target price for the company in a report on Thursday, April 26th. Needham & Company LLC increased their target price on shares of CoStar Group to $450.00 and gave the stock a buy rating in a report on Tuesday, April 24th. SunTrust Banks increased their target price on shares of CoStar Group to $435.00 and gave the stock a buy rating in a report on Tuesday, April 24th. Finally, JMP Securities increased their target price on shares of CoStar Group from $375.00 to $380.00 and gave the stock a market outperform rating in a report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $388.45.

CoStar Group opened at $384.71 on Friday, according to Marketbeat. CoStar Group has a 52 week low of $242.76 and a 52 week high of $396.59. The stock has a market cap of $13.88 billion, a PE ratio of 99.41, a price-to-earnings-growth ratio of 3.43 and a beta of 1.53.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Monday, April 23rd. The technology company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.28. CoStar Group had a net margin of 15.09% and a return on equity of 6.97%. The firm had revenue of $274.00 million during the quarter, compared to analyst estimates of $270.56 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. sell-side analysts expect that CoStar Group will post 6.63 earnings per share for the current fiscal year.

In other CoStar Group news, VP Matthew Linnington sold 7,921 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $348.23, for a total transaction of $2,758,329.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew C. Florance sold 5,839 shares of the stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $369.05, for a total transaction of $2,154,882.95. The disclosure for this sale can be found here. Insiders sold a total of 63,863 shares of company stock valued at $23,271,202 over the last three months. 2.47% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CSGP. Lenox Wealth Advisors Inc. purchased a new stake in CoStar Group during the 4th quarter valued at approximately $102,000. Summit Trail Advisors LLC grew its holdings in CoStar Group by 21,110.0% during the 1st quarter. Summit Trail Advisors LLC now owns 105,838 shares of the technology company’s stock valued at $106,000 after buying an additional 105,339 shares in the last quarter. Korea Investment CORP purchased a new stake in CoStar Group during the 1st quarter valued at approximately $109,000. Cerebellum GP LLC purchased a new stake in CoStar Group during the 4th quarter valued at approximately $129,000. Finally, Adviser Investments LLC purchased a new stake in CoStar Group during the 1st quarter valued at approximately $181,000. 96.77% of the stock is owned by institutional investors and hedge funds.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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