CoStar Group (NASDAQ:CSGP) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of CoStar Group (NASDAQ:CSGPFree Report) in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $109.00 price objective on the technology company’s stock.

CSGP has been the topic of a number of other research reports. Stephens restated an overweight rating and set a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Bank of America lifted their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. Keefe, Bruyette & Woods increased their price target on CoStar Group from $96.00 to $109.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Jefferies Financial Group boosted their price objective on CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a research report on Friday, April 12th. Finally, Robert W. Baird upped their price objective on CoStar Group from $90.00 to $105.00 and gave the stock an outperform rating in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $102.46.

Check Out Our Latest Stock Report on CoStar Group

CoStar Group Trading Down 1.1 %

Shares of CSGP stock opened at $76.21 on Friday. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The firm has a fifty day moving average price of $87.66 and a 200-day moving average price of $86.55. The company has a market cap of $31.12 billion, a price-to-earnings ratio of 104.40, a PEG ratio of 11.47 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09.

CoStar Group (NASDAQ:CSGPGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $656.40 million during the quarter, compared to analyst estimates of $649.27 million. As a group, equities analysts predict that CoStar Group will post 0.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the sale, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On CoStar Group

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after buying an additional 173 shares during the period. Crewe Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter worth about $31,000. Riverview Trust Co purchased a new position in shares of CoStar Group during the 1st quarter worth about $35,000. Pinnacle Bancorp Inc. bought a new position in CoStar Group during the 4th quarter valued at about $37,000. Finally, RiverPark Advisors LLC purchased a new stake in CoStar Group in the 1st quarter worth about $37,000. Institutional investors own 96.60% of the company’s stock.

About CoStar Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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