CoStar Group, Inc. (NASDAQ:CSGP) Receives $88.07 Average Price Target from Analysts

CoStar Group, Inc. (NASDAQ:CSGP) has been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $88.07.

CSGP has been the subject of a number of recent research reports. Needham & Company LLC decreased their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Piper Sandler initiated coverage on CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating for the company. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CSGP. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group during the fourth quarter worth about $25,000. ORG Partners LLC increased its position in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Up 0.7 %

CSGP opened at $79.91 on Tuesday. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The business has a fifty day simple moving average of $74.89 and a 200-day simple moving average of $75.66. The firm has a market cap of $32.77 billion, a P/E ratio of 228.31 and a beta of 0.93. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. On average, equities analysts expect that CoStar Group will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has approved a share buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, 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.