CoStar Group (NASDAQ:CSGP) Given New $88.00 Price Target at Citigroup

CoStar Group (NASDAQ:CSGP) had its price target decreased by Citigroup from $90.00 to $88.00 in a research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Friday, January 10th. StockNews.com upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.92.

CoStar Group Trading Up 0.3 %

Shares of NASDAQ CSGP opened at $73.42 on Tuesday. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The firm has a market capitalization of $30.10 billion, a P/E ratio of 166.87 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company’s 50 day simple moving average is $74.80 and its 200 day simple moving average is $75.34.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $695.91 million. During the same quarter in the prior year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts predict that CoStar Group will post 0.52 EPS for the current year.

Insider Buying and Selling at CoStar Group

In related news, CEO Andrew C. Florance purchased 14,731 shares of the firm’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 purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On CoStar Group

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. State Street Corp lifted its holdings in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the last quarter. Geode Capital Management LLC increased its position in CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after buying an additional 236,407 shares during the period. Vulcan Value Partners LLC lifted its holdings in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after buying an additional 1,961,917 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after acquiring an additional 76,916 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of CoStar Group by 16.9% in the second quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after acquiring an additional 341,046 shares in the last quarter. Institutional investors and hedge funds 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.