CoStar Group (NASDAQ:CSGP – Get Rating) had its target price lifted by stock analysts at Stephens from $84.00 to $86.00 in a report released on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Stephens’ target price suggests a potential upside of 17.21% from the company’s current price.
Other equities analysts have also issued research reports about the stock. StockNews.com began coverage on shares of CoStar Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup upped their price target on shares of CoStar Group from $75.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Robert W. Baird increased their target price on shares of CoStar Group from $75.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Truist Financial increased their target price on shares of CoStar Group to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, BMO Capital Markets started coverage on shares of CoStar Group in a research report on Monday, September 12th. They issued a “market perform” rating and a $83.00 target price for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.36.
CoStar Group Stock Performance
Shares of NASDAQ:CSGP traded up $1.98 on Tuesday, reaching $73.37. 35,239 shares of the company’s stock were exchanged, compared to its average volume of 2,155,321. The firm has a market capitalization of $29.05 billion, a price-to-earnings ratio of 87.40 and a beta of 0.88. CoStar Group has a fifty-two week low of $49.00 and a fifty-two week high of $101.05. The business’s 50-day moving average is $72.36 and its two-hundred day moving average is $65.76. The company has a quick ratio of 11.95, a current ratio of 11.95 and a debt-to-equity ratio of 0.17.
CoStar Group (NASDAQ:CSGP – Get Rating) last issued its earnings results on Tuesday, July 26th. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.07. The company had revenue of $536.31 million for the quarter, compared to analysts’ expectations of $532.00 million. CoStar Group had a net margin of 16.03% and a return on equity of 7.31%. During the same period in the prior year, the company earned $0.22 earnings per share. As a group, equities research analysts forecast that CoStar Group will post 0.96 EPS for the current year.
Insider Activity at CoStar Group
In other CoStar Group news, Director John W. Hill sold 1,400 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $74.49, for a total value of $104,286.00. Following the completion of the sale, the director now directly owns 20,598 shares of the company’s stock, valued at approximately $1,534,345.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Michael J. Desmarais sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $72.51, for a total value of $145,020.00. Following the completion of the transaction, the insider now owns 39,619 shares in the company, valued at approximately $2,872,773.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Hill sold 1,400 shares of CoStar Group stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $74.49, for a total value of $104,286.00. Following the completion of the sale, the director now directly owns 20,598 shares of the company’s stock, valued at $1,534,345.02. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by company insiders.
Institutional Trading of CoStar Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in CoStar Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company’s stock valued at $2,315,223,000 after purchasing an additional 204,955 shares during the period. Principal Financial Group Inc. raised its position in shares of CoStar Group by 7.6% in the 2nd quarter. Principal Financial Group Inc. now owns 20,166,548 shares of the technology company’s stock valued at $1,218,260,000 after acquiring an additional 1,424,212 shares during the period. Sands Capital Management LLC raised its position in shares of CoStar Group by 3.9% in the 1st quarter. Sands Capital Management LLC now owns 10,683,596 shares of the technology company’s stock valued at $711,634,000 after acquiring an additional 403,931 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in CoStar Group by 7.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,965,881 shares of the technology company’s stock worth $602,039,000 after buying an additional 649,193 shares during the period. Finally, Parnassus Investments LLC raised its holdings in CoStar Group by 1.6% during the 2nd quarter. Parnassus Investments LLC now owns 8,449,885 shares of the technology company’s stock worth $510,458,000 after buying an additional 131,548 shares during the period. 95.29% of the stock is owned by institutional investors.
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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.