BidaskClub upgraded shares of CoStar Group (NASDAQ:CSGP) from a sell rating to a hold rating in a research report released on Wednesday morning.
Several other brokerages also recently issued reports on CSGP. Needham & Company LLC lifted their price objective on CoStar Group from $450.00 to $475.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded CoStar Group from a hold rating to a buy rating and set a $471.00 price objective for the company in a research report on Monday, October 1st. B. Riley lifted their price objective on CoStar Group from $400.00 to $460.00 and gave the stock a buy rating in a research report on Friday, July 20th. SunTrust Banks lifted their price objective on CoStar Group to $475.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. Finally, Citigroup lifted their price objective on CoStar Group from $425.00 to $490.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. CoStar Group has an average rating of Buy and an average target price of $440.18.
Shares of CoStar Group stock opened at $383.49 on Wednesday. CoStar Group has a 1 year low of $276.64 and a 1 year high of $448.35. The company has a market cap of $14.14 billion, a P/E ratio of 99.09, a P/E/G ratio of 3.32 and a beta of 1.44.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 24th. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.35. CoStar Group had a return on equity of 7.25% and a net margin of 16.27%. The firm had revenue of $229.90 million during the quarter, compared to the consensus estimate of $293.55 million. During the same period in the previous year, the firm posted $0.86 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts predict that CoStar Group will post 6.98 earnings per share for the current fiscal year.
In other CoStar Group news, CFO Scott T. Wheeler sold 4,700 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $426.02, for a total value of $2,002,294.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Francis Carchedi sold 32,671 shares of the business’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $421.87, for a total value of $13,782,914.77. The disclosure for this sale can be found here. Insiders sold a total of 56,755 shares of company stock valued at $23,901,460 over the last quarter. 2.47% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Summit Trail Advisors LLC raised its holdings in CoStar Group by 21,110.0% in the 1st quarter. Summit Trail Advisors LLC now owns 105,838 shares of the technology company’s stock valued at $106,000 after acquiring an additional 105,339 shares during the last quarter. Fort L.P. acquired a new position in CoStar Group in the 2nd quarter valued at $122,000. Signet Financial Management LLC acquired a new position in CoStar Group in the 2nd quarter valued at $152,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in 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 acquiring an additional 143 shares during the last quarter. Finally, Ropes Wealth Advisors LLC acquired a new position in CoStar Group in the 2nd quarter valued at $186,000. Institutional investors own 96.23% 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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