Shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $78.88.
Several brokerages have recently commented on CSGP. Citigroup boosted their target price on CoStar Group from $65.00 to $70.00 in a report on Wednesday, April 27th. Royal Bank of Canada boosted their price objective on shares of CoStar Group from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, April 11th. StockNews.com initiated coverage on shares of CoStar Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company. The Goldman Sachs Group dropped their price objective on shares of CoStar Group from $107.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 7th. Finally, Needham & Company LLC boosted their price objective on shares of CoStar Group from $70.00 to $77.00 in a research report on Wednesday, April 27th.
In related news, Director John W. Hill sold 1,750 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $57.07, for a total value of $99,872.50. Following the completion of the transaction, the director now directly owns 21,998 shares of the company’s stock, valued at approximately $1,255,425.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Desmarais sold 1,000 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $63.14, for a total transaction of $63,140.00. Following the completion of the transaction, the insider now directly owns 41,619 shares of the company’s stock, valued at $2,627,823.66. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CSGP. Select Equity Group LP boosted its stake in CoStar Group by 204.3% in the 1st quarter. Select Equity Group LP now owns 6,362,625 shares of the technology company’s stock worth $423,814,000 after purchasing an additional 4,271,849 shares during the period. Norges Bank acquired a new position in shares of CoStar Group during the 4th quarter worth about $298,035,000. Parnassus Investments LLC boosted its stake in shares of CoStar Group by 38.2% during the 1st quarter. Parnassus Investments LLC now owns 8,318,337 shares of the technology company’s stock worth $554,084,000 after buying an additional 2,300,462 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of CoStar Group by 343.8% during the 1st quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock worth $194,074,000 after buying an additional 2,257,140 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of CoStar Group by 12.3% during the 1st quarter. Principal Financial Group Inc. now owns 18,742,336 shares of the technology company’s stock worth $1,248,427,000 after buying an additional 2,055,607 shares during the last quarter. 94.52% of the stock is owned by hedge funds and other institutional investors.
NASDAQ CSGP opened at $61.32 on Friday. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $59.56 and its two-hundred day moving average is $64.80. The company has a market capitalization of $24.30 billion, a price-to-earnings ratio of 77.62 and a beta of 0.90. CoStar Group has a 1-year low of $49.00 and a 1-year high of $101.05.
CoStar Group (NASDAQ:CSGP – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The technology company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $515.83 million for the quarter, compared to the consensus estimate of $512.32 million. CoStar Group had a return on equity of 7.25% and a net margin of 15.37%. During the same period in the previous year, the business earned $0.25 earnings per share. On average, analysts predict that CoStar Group will post 0.87 earnings per share for the current year.
CoStar Group Company Profile (Get Rating)
CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professional 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.
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