CoStar Group, Inc. (NASDAQ:CSGP) Receives Average Recommendation of “Moderate Buy” from Brokerages

CoStar Group, Inc. (NASDAQ:CSGP) has been assigned an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $96.38.

Several analysts recently issued reports on CSGP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $96.00 target price on shares of CoStar Group in a research note on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Robert W. Baird cut their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, July 29th.

Institutional Investors Weigh In On CoStar Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CSGP. Gilbert & Cook Inc. lifted its holdings in shares of CoStar Group by 14.3% during the fourth quarter. Gilbert & Cook Inc. now owns 14,571 shares of the technology company’s stock valued at $1,273,000 after purchasing an additional 1,824 shares during the last quarter. Accretive Wealth Partners LLC raised its stake in CoStar Group by 2.1% during the fourth quarter. Accretive Wealth Partners LLC now owns 9,398 shares of the technology company’s stock valued at $821,000 after buying an additional 192 shares during the last quarter. Private Advisor Group LLC raised its stake in CoStar Group by 3.4% during the fourth quarter. Private Advisor Group LLC now owns 6,491 shares of the technology company’s stock valued at $567,000 after buying an additional 215 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in CoStar Group by 21.7% in the fourth quarter. BNP Paribas Financial Markets now owns 417,373 shares of the technology company’s stock worth $36,474,000 after acquiring an additional 74,357 shares in the last quarter. Finally, Jump Financial LLC grew its stake in shares of CoStar Group by 20.4% in the fourth quarter. Jump Financial LLC now owns 12,768 shares of the technology company’s stock worth $1,116,000 after acquiring an additional 2,159 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $77.90 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a market capitalization of $31.81 billion, a P/E ratio of 106.71, a PEG ratio of 11.56 and a beta of 0.81. The stock has a 50 day moving average price of $76.03 and a two-hundred day moving average price of $82.18.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. Analysts expect that CoStar Group will post 0.49 earnings per share for the current year.

About CoStar Group

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.