Analysts Set CoStar Group, Inc. (NASDAQ:CSGP) Price Target at $102.46

CoStar Group, Inc. (NASDAQ:CSGP) has received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $102.46.

CSGP has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Jefferies Financial Group increased their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Bank of America lifted their price target on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Keefe, Bruyette & Woods increased their target price on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Robert W. Baird boosted their price target on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th.

CoStar Group Trading Down 0.4 %

Shares of CSGP opened at $73.88 on Thursday. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38. The company has a market capitalization of $30.17 billion, a P/E ratio of 101.21, a P/E/G ratio of 11.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. The firm’s 50 day simple moving average is $82.78 and its 200 day simple moving average is $85.56.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The firm had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.27 million. Sell-side analysts forecast that CoStar Group will post 0.45 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

In related news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the sale, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the sale, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after acquiring an additional 1,773,564 shares in the last quarter. Norges Bank purchased a new position in CoStar Group during the 4th quarter valued at about $406,934,000. Blair William & Co. IL lifted its position in CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after acquiring an additional 26,800 shares during the period. Finally, Brown Advisory Inc. boosted its stake in CoStar Group by 10.1% during the fourth quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock worth $362,207,000 after acquiring an additional 380,859 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

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.