Stephens Reaffirms Overweight Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating restated by Stephens in a research note issued on Thursday,Benzinga reports. They presently have a $103.00 price objective on the technology company’s stock. Stephens’ target price indicates a potential upside of 42.56% from the stock’s previous close.

A number of other research firms have also weighed in on CSGP. Citigroup reduced their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $93.08.

CoStar Group Stock Up 2.0 %

Shares of NASDAQ:CSGP opened at $72.25 on Thursday. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a market capitalization of $29.62 billion, a PE ratio of 164.21 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a fifty day moving average of $75.33 and a 200-day moving average of $75.49.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts predict that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other CoStar Group news, 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 value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Institutional Trading of CoStar Group

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group in the third quarter valued at $40,000. JPMorgan Chase & Co. raised its holdings in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC lifted its position in CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 150,000 shares in the last quarter. Swedbank AB boosted its stake in CoStar Group by 469.3% during the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock valued at $18,712,000 after purchasing an additional 204,474 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in CoStar Group by 16.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 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.