CoStar Group (NASDAQ:CSGP) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of CoStar Group (NASDAQ:CSGP) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

A number of other equities research analysts also recently issued reports on CSGP. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th. Finally, Citigroup decreased their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

CoStar Group Stock Up 1.4 %

NASDAQ CSGP opened at $71.34 on Tuesday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $29.25 billion, a price-to-earnings ratio of 162.14 and a beta of 0.85. The company has a 50 day moving average of $75.09 and a 200-day moving average of $75.43. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities research analysts expect that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group during the third quarter worth about $40,000. Quarry LP acquired a new stake in CoStar Group during the 2nd quarter valued at approximately $54,000. Brooklyn Investment Group acquired a new stake in CoStar Group during the 3rd quarter valued at approximately $91,000. Point72 Asia Singapore Pte. Ltd. bought a new position in CoStar Group during the 2nd quarter worth approximately $104,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock worth $104,000 after purchasing an additional 488 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Company Profile

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.