CoStar Group’s (CSGP) Overweight Rating Reiterated at Stephens

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $103.00 price target on the technology company’s stock. Stephens’ price objective indicates a potential upside of 43.87% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets decreased their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Stock Performance

NASDAQ CSGP opened at $71.59 on Thursday. The company has a fifty day moving average of $75.39 and a two-hundred day moving average of $75.52. The company has a market capitalization of $29.35 billion, a PE ratio of 162.71 and a beta of 0.83. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same quarter last year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that CoStar Group will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew C. Florance bought 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in CoStar Group during the 3rd quarter valued at $40,000. Quarry LP acquired a new stake in shares of CoStar Group during the second quarter valued at $54,000. Rothschild Investment LLC purchased a new stake in CoStar Group during the 2nd quarter worth about $73,000. Brooklyn Investment Group purchased a new stake in CoStar Group during the 3rd quarter worth about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in CoStar Group in the 2nd quarter valued at about $104,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.