CoStar Group, Inc. (NASDAQ:CSGP) Receives Consensus Rating of “Buy” from Brokerages

CoStar Group, Inc. (NASDAQ:CSGP) has earned an average recommendation of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $74.17.

Several research firms recently weighed in on CSGP. Robert W. Baird upped their price target on CoStar Group from $100.00 to $108.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Truist upped their price target on CoStar Group from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Truist Securities upped their price target on CoStar Group from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Finally, Needham & Company LLC upped their price target on CoStar Group from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th.

CSGP traded down $0.56 during midday trading on Friday, reaching $79.70. 1,094,778 shares of the company’s stock traded hands, compared to its average volume of 2,305,415. The firm has a fifty day moving average price of $87.44. The company has a market cap of $31.48 billion, a PE ratio of 133.06, a price-to-earnings-growth ratio of 4.28 and a beta of 0.79. The company has a quick ratio of 12.18, a current ratio of 12.18 and a debt-to-equity ratio of 0.18. CoStar Group has a 52 week low of $74.31 and a 52 week high of $101.05.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Monday, October 25th. The technology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. CoStar Group had a return on equity of 6.82% and a net margin of 12.51%. The firm had revenue of $499.32 million for the quarter, compared to the consensus estimate of $497.97 million. During the same quarter in the prior year, the business earned $0.19 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts predict that CoStar Group will post 0.95 earnings per share for the current fiscal year.

In other news, Director John W. Hill sold 9,235 shares of the stock in a transaction on Friday, October 29th. The stock was sold at an average price of $86.97, for a total transaction of $803,167.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura Cox Kaplan sold 4,040 shares of the stock in a transaction on Friday, November 5th. The shares were sold at an average price of $83.29, for a total value of $336,491.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,360 shares of company stock worth $1,146,606. Company insiders own 1.36% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of CoStar Group by 930.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 43,681,083 shares of the technology company’s stock valued at $3,617,667,000 after purchasing an additional 39,443,646 shares in the last quarter. Vanguard Group Inc. grew its position in shares of CoStar Group by 896.4% during the second quarter. Vanguard Group Inc. now owns 34,639,833 shares of the technology company’s stock valued at $2,868,871,000 after purchasing an additional 31,163,246 shares in the last quarter. BlackRock Inc. grew its position in shares of CoStar Group by 748.3% during the second quarter. BlackRock Inc. now owns 25,891,949 shares of the technology company’s stock valued at $2,144,369,000 after purchasing an additional 22,839,557 shares in the last quarter. Bamco Inc. NY grew its position in shares of CoStar Group by 868.6% during the second quarter. Bamco Inc. NY now owns 18,793,260 shares of the technology company’s stock valued at $1,556,458,000 after purchasing an additional 16,853,001 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of CoStar Group by 1,489.6% during the second quarter. Principal Financial Group Inc. now owns 15,169,117 shares of the technology company’s stock valued at $1,256,306,000 after purchasing an additional 14,214,869 shares in the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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