Brokerages Set CoStar Group, Inc. (NASDAQ:CSGP) Target Price at $93.08

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $92.92.

Several brokerages recently commented on CSGP. BMO Capital Markets dropped their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. Citigroup dropped their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday.

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverbridge Partners LLC grew its holdings in CoStar Group by 5.5% during the 4th quarter. Riverbridge Partners LLC now owns 1,943,883 shares of the technology company’s stock worth $139,163,000 after acquiring an additional 101,867 shares in the last quarter. Davis Capital Management lifted its position in shares of CoStar Group by 6.3% during the fourth quarter. Davis Capital Management now owns 13,456 shares of the technology company’s stock worth $963,000 after purchasing an additional 792 shares during the last quarter. Perfromance Wealth Partners LLC acquired a new position in CoStar Group in the fourth quarter worth about $205,000. Solidarity Wealth LLC bought a new stake in CoStar Group in the fourth quarter valued at about $2,714,000. Finally, Aurora Investment Managers LLC. increased its holdings in CoStar Group by 1.5% in the fourth quarter. Aurora Investment Managers LLC. now owns 22,193 shares of the technology company’s stock valued at $1,589,000 after buying an additional 336 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CSGP stock opened at $73.85 on Monday. The stock has a market capitalization of $30.28 billion, a price-to-earnings ratio of 167.84 and a beta of 0.85. The stock’s fifty day simple moving average is $74.74 and its 200-day simple moving average is $75.33. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the previous year, the business earned $0.25 EPS. The firm’s revenue was up 10.9% on a year-over-year basis. Equities research analysts expect that CoStar Group will post 0.52 EPS for the current year.

About CoStar Group

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.