CoStar Group’s (CSGP) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of CoStar Group (NASDAQ:CSGPFree Report) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $110.00 price target on the technology company’s stock.

Several other research firms have also weighed in on CSGP. The Goldman Sachs Group boosted their price target on CoStar Group from $96.00 to $107.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. William Blair reiterated an outperform rating on shares of CoStar Group in a research report on Wednesday, April 24th. Stephens reiterated an overweight rating and set a $105.00 target price on shares of CoStar Group in a research report on Wednesday, April 24th. Royal Bank of Canada restated an outperform rating and set a $109.00 price objective on shares of CoStar Group in a research report on Friday, June 7th. Finally, Bank of America upped their price objective on CoStar Group from $97.00 to $111.00 and gave the stock a buy rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $102.46.

View Our Latest Report on CSGP

CoStar Group Price Performance

CoStar Group stock opened at $73.94 on Tuesday. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.19 billion, a P/E ratio of 101.29, a PEG ratio of 10.83 and a beta of 0.83. The business has a 50-day moving average of $83.94 and a 200-day moving average of $85.88.

CoStar Group (NASDAQ:CSGPGet Free Report) last released 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 return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.27 million. On average, equities analysts anticipate that CoStar Group will post 0.45 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CSGP. Teachers Retirement System of The State of Kentucky lifted its holdings in CoStar Group by 3.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 158,315 shares of the technology company’s stock worth $15,294,000 after acquiring an additional 5,468 shares during the period. Cetera Advisors LLC increased its position in CoStar Group by 523.0% in the first quarter. Cetera Advisors LLC now owns 38,453 shares of the technology company’s stock worth $3,715,000 after buying an additional 32,281 shares during the last quarter. Cetera Investment Advisers increased its position in CoStar Group by 129.8% in the first quarter. Cetera Investment Advisers now owns 150,203 shares of the technology company’s stock worth $14,510,000 after buying an additional 84,854 shares during the last quarter. Swedbank AB purchased a new position in shares of CoStar Group in the first quarter valued at $4,223,000. Finally, Plato Investment Management Ltd grew its position in shares of CoStar Group by 1,158.0% in the first quarter. Plato Investment Management Ltd now owns 5,875 shares of the technology company’s stock valued at $568,000 after purchasing an additional 5,408 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

About CoStar Group

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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.

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