CoStar Group, Inc. (NASDAQ:CSGP) Given Consensus Rating of “Buy” by Brokerages

Shares of CoStar Group, Inc. (NASDAQ:CSGPGet Rating) have been given an average rating of “Buy” by the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $78.88.

A number of research analysts recently weighed in on CSGP shares. Truist Financial reduced their price objective on CoStar Group from $110.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Zacks Investment Research raised CoStar Group from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Royal Bank of Canada lifted their target price on CoStar Group from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, April 11th. JPMorgan Chase & Co. reduced their target price on CoStar Group from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, February 23rd. Finally, StockNews.com started coverage on CoStar Group in a report on Thursday, March 31st. They issued a “hold” rating for the company.

In other news, Director John W. Hill sold 1,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $57.07, for a total transaction of $99,872.50. Following the completion of the sale, the director now owns 21,998 shares in the company, valued at approximately $1,255,425.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Desmarais sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $63.14, for a total transaction of $63,140.00. Following the sale, the insider now owns 41,619 shares of the company’s stock, valued at approximately $2,627,823.66. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CSGP. Select Equity Group L.P. increased its stake in shares of CoStar Group by 204.3% during the first quarter. Select Equity Group L.P. now owns 6,362,625 shares of the technology company’s stock worth $423,814,000 after acquiring an additional 4,271,849 shares during the period. Norges Bank purchased a new stake in shares of CoStar Group in the fourth quarter valued at about $298,035,000. Parnassus Investments LLC lifted its stake in shares of CoStar Group by 38.2% during the first quarter. Parnassus Investments LLC now owns 8,318,337 shares of the technology company’s stock valued at $554,084,000 after buying an additional 2,300,462 shares during the period. Mackenzie Financial Corp lifted its stake in shares of CoStar Group by 343.8% during the first quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock valued at $194,074,000 after buying an additional 2,257,140 shares during the period. Finally, Principal Financial Group Inc. increased its position in CoStar Group by 12.3% during the first quarter. Principal Financial Group Inc. now owns 18,742,336 shares of the technology company’s stock worth $1,248,427,000 after purchasing an additional 2,055,607 shares during the last quarter. 94.52% of the stock is owned by hedge funds and other institutional investors.

NASDAQ CSGP opened at $61.96 on Wednesday. CoStar Group has a fifty-two week low of $49.00 and a fifty-two week high of $101.05. The stock has a market cap of $24.55 billion, a P/E ratio of 78.43 and a beta of 0.90. The stock has a 50 day simple moving average of $61.53 and a two-hundred day simple moving average of $67.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.08 and a current ratio of 11.08.

CoStar Group (NASDAQ:CSGPGet Rating) last announced its earnings results on Tuesday, April 26th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. CoStar Group had a return on equity of 7.25% and a net margin of 15.37%. The firm had revenue of $515.83 million during the quarter, compared to analyst estimates of $512.32 million. During the same quarter in the prior year, the company earned $0.25 EPS. Sell-side analysts predict that CoStar Group will post 0.87 earnings per share for the current year.

CoStar Group Company Profile (Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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