Shares of CoStar Group Inc (NASDAQ:CSGP) have been given an average rating of “Buy” by the thirteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $388.45.
A number of brokerages have recently weighed in on CSGP. Zacks Investment Research lowered CoStar Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 24th. BidaskClub upgraded CoStar Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. ValuEngine upgraded CoStar Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. increased their target price on CoStar Group from $350.00 to $353.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 24th. Finally, Needham & Company LLC increased their target price on CoStar Group to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, April 24th.
In other CoStar Group 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 transaction of $415,472.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. In the last 90 days, insiders have sold 39,592 shares of company stock worth $14,677,240. Corporate insiders own 2.47% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CSGP. Korea Investment CORP bought a new position in shares of CoStar Group in the 1st quarter valued at $109,000. Adviser Investments LLC bought a new position in shares of CoStar Group in the 1st quarter valued at $181,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of CoStar Group by 39.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 510 shares of the technology company’s stock valued at $183,000 after purchasing an additional 143 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of CoStar Group in the 1st quarter valued at $218,000. Finally, Wellington Shields Capital Management LLC bought a new position in shares of CoStar Group in the 1st quarter valued at $245,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.
Shares of CSGP traded down $2.12 during mid-day trading on Monday, reaching $415.13. The company’s stock had a trading volume of 1,489 shares, compared to its average volume of 193,028. CoStar Group has a 1-year low of $255.32 and a 1-year high of $419.16. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 108.13, a PEG ratio of 3.73 and a beta of 1.53.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Monday, April 23rd. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.28. The company had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $270.56 million. CoStar Group had a return on equity of 6.97% and a net margin of 15.09%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm posted $1.05 earnings per share. analysts forecast that CoStar Group will post 6.63 earnings per share for the current year.
About CoStar Group
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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