BidaskClub cut shares of CoStar Group (NASDAQ:CSGP) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.
Other research analysts also recently issued reports about the company. SunTrust Banks increased their target price on CoStar Group to $410.00 and gave the company a buy rating in a research report on Monday, February 5th. Zacks Investment Research upgraded CoStar Group from a hold rating to a buy rating and set a $375.00 target price for the company in a research report on Thursday, February 8th. Needham & Company LLC increased their target price on CoStar Group to $450.00 and gave the company a buy rating in a research report on Tuesday, April 24th. Wells Fargo set a $400.00 target price on CoStar Group and gave the company a buy rating in a research report on Thursday, January 18th. Finally, JPMorgan Chase increased their target price on CoStar Group from $350.00 to $353.00 and gave the company an underweight rating in a research report on Tuesday, April 24th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. CoStar Group presently has a consensus rating of Buy and an average target price of $388.45.
NASDAQ CSGP opened at $384.71 on Friday. The company has a market cap of $13.88 billion, a PE ratio of 99.41, a PEG ratio of 3.43 and a beta of 1.53. CoStar Group has a one year low of $242.76 and a one year high of $396.59.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Monday, April 23rd. The technology company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.28. The firm had revenue of $274.00 million during the quarter, compared to the consensus estimate of $270.56 million. CoStar Group had a return on equity of 6.97% and a net margin of 15.09%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. sell-side analysts predict that CoStar Group will post 6.63 earnings per share for the current fiscal year.
In related news, Director John W. Hill sold 1,150 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $361.28, for a total value of $415,472.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew C. Florance sold 24,821 shares of the firm’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $371.03, for a total value of $9,209,335.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,863 shares of company stock valued at $23,271,202. 2.47% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CSGP. Bank of Montreal Can lifted its position in CoStar Group by 366.2% in the fourth quarter. Bank of Montreal Can now owns 7,035 shares of the technology company’s stock worth $2,089,000 after buying an additional 5,526 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in CoStar Group by 14.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 120,892 shares of the technology company’s stock worth $35,899,000 after purchasing an additional 15,265 shares during the period. Oakbrook Investments LLC increased its stake in CoStar Group by 24.4% in the fourth quarter. Oakbrook Investments LLC now owns 1,298 shares of the technology company’s stock worth $385,000 after purchasing an additional 255 shares during the period. State of Alaska Department of Revenue purchased a new stake in CoStar Group in the fourth quarter worth $4,528,000. Finally, GW&K Investment Management LLC increased its stake in CoStar Group by 0.3% in the fourth quarter. GW&K Investment Management LLC now owns 103,598 shares of the technology company’s stock worth $30,763,000 after purchasing an additional 277 shares during the period. Institutional investors own 96.77% of the company’s stock.
CoStar Group Company Profile
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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