CoStar Group (NASDAQ:CSGP) Stock Rating Upgraded by 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.

CSGP has been the topic of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Monday. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Citigroup reduced 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 report on Thursday, October 24th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Price Performance

CoStar Group stock opened at $70.36 on Tuesday. The stock has a market capitalization of $28.84 billion, a price-to-earnings ratio of 159.91 and a beta of 0.85. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock’s 50 day moving average price is $75.16 and its two-hundred day moving average price is $75.48.

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

Insider Transactions at CoStar Group

In related 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 sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was bought 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 of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Large investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the third quarter valued at approximately $40,000. Quarry LP purchased a new position in shares of CoStar Group during the 2nd quarter valued at $54,000. Brooklyn Investment Group purchased a new position in shares of CoStar Group during the 3rd quarter valued at $91,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group during the 2nd quarter worth $104,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in 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 acquiring an additional 488 shares during the last quarter. Hedge funds and other 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.