CoStar Group Inc (NASDAQ:CSGP) has been given a consensus rating of “Buy” by the thirteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $434.60.
Several research analysts recently commented on the stock. Zacks Investment Research cut shares of CoStar Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Needham & Company LLC increased their target price on shares of CoStar Group from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Citigroup increased their target price on shares of CoStar Group from $425.00 to $490.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. They noted that the move was a valuation call. BidaskClub upgraded shares of CoStar Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Finally, B. Riley upped their price target on shares of CoStar Group from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, July 20th.
In other news, VP Matthew Linnington sold 4,384 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $411.93, for a total value of $1,805,901.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Scott T. Wheeler sold 4,700 shares of the stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $426.02, for a total transaction of $2,002,294.00. The disclosure for this sale can be found here. Insiders sold 56,755 shares of company stock worth $23,901,460 over the last three months. Insiders own 2.47% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV raised its position in shares of CoStar Group by 4.6% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 2,857 shares of the technology company’s stock valued at $1,179,000 after purchasing an additional 125 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in CoStar Group by 39.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 510 shares of the technology company’s stock worth $183,000 after acquiring an additional 143 shares during the period. Metropolitan Life Insurance Co. NY increased its position in CoStar Group by 6.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 2,819 shares of the technology company’s stock worth $1,163,000 after acquiring an additional 169 shares during the period. Peregrine Capital Management LLC increased its position in CoStar Group by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 59,531 shares of the technology company’s stock worth $24,564,000 after acquiring an additional 174 shares during the period. Finally, CIBC Asset Management Inc increased its position in CoStar Group by 14.3% during the second quarter. CIBC Asset Management Inc now owns 1,467 shares of the technology company’s stock worth $605,000 after acquiring an additional 184 shares during the period. 96.16% of the stock is currently owned by institutional investors.
CSGP traded down $3.14 during trading hours on Friday, hitting $434.07. 114,700 shares of the company’s stock were exchanged, compared to its average volume of 206,875. CoStar Group has a 1-year low of $255.41 and a 1-year high of $448.35. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 112.48, a PEG ratio of 3.79 and a beta of 1.47.
CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, July 24th. The technology company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.35. CoStar Group had a net margin of 16.27% and a return on equity of 7.25%. The business had revenue of $229.90 million during the quarter, compared to analysts’ expectations of $293.55 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. equities research analysts predict that CoStar Group will post 6.98 EPS for the current year.
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.
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