Shares of CoStar Group Inc (NASDAQ:CSGP) have earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $464.25.
Several equities research analysts have recently commented on the company. BidaskClub raised CoStar Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Zacks Investment Research lowered CoStar Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. Bank of America reaffirmed a “buy” rating and issued a $460.00 target price (up previously from $429.00) on shares of CoStar Group in a research note on Wednesday, February 27th. B. Riley upped their target price on CoStar Group from $460.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Finally, ValuEngine raised CoStar Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th.
NASDAQ CSGP traded up $1.12 on Monday, hitting $481.72. 200,950 shares of the company’s stock were exchanged, compared to its average volume of 190,524. CoStar Group has a fifty-two week low of $315.85 and a fifty-two week high of $491.97. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 3.23 and a beta of 1.46.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 26th. The technology company reported $2.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.27. CoStar Group had a return on equity of 9.30% and a net margin of 20.00%. The company had revenue of $315.57 million for the quarter, compared to analysts’ expectations of $310.19 million. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, research analysts predict that CoStar Group will post 9.03 earnings per share for the current year.
In other CoStar Group news, insider Andrew C. Florance sold 55,322 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $473.38, for a total transaction of $26,188,328.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Scott T. Wheeler sold 5,396 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $476.11, for a total value of $2,569,089.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,419 shares of company stock worth $31,001,252. Corporate insiders own 2.47% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Bfsg LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth $562,000. Gulf International Bank UK Ltd increased its holdings in shares of CoStar Group by 1.2% during the 1st quarter. Gulf International Bank UK Ltd now owns 8,299 shares of the technology company’s stock worth $3,870,000 after buying an additional 100 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of CoStar Group by 10.7% during the 1st quarter. IFM Investors Pty Ltd now owns 2,311 shares of the technology company’s stock worth $1,078,000 after buying an additional 224 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of CoStar Group during the 1st quarter worth $256,000. Finally, Nwam LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth $222,000. Institutional investors and hedge funds own 96.91% of the company’s stock.
About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.
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