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

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have received an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $88.07.

CSGP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. Wells Fargo & Company reduced their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. Piper Sandler initiated coverage on CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Finally, Craig Hallum assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating on the stock.

CoStar Group Trading Down 1.0 %

CoStar Group stock opened at $79.31 on Friday. The stock has a market cap of $32.53 billion, a PE ratio of 226.60 and a beta of 0.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $76.96 and a 200 day moving average price of $75.83. CoStar Group has a 52 week low of $68.26 and a 52 week high of $96.98.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities research analysts predict that CoStar Group will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has initiated a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently bought and sold shares of CSGP. California State Teachers Retirement System raised its stake in shares of CoStar Group by 0.9% during the fourth quarter. California State Teachers Retirement System now owns 680,585 shares of the technology company’s stock valued at $48,723,000 after purchasing an additional 5,774 shares during the period. 111 Capital acquired a new stake in CoStar Group during the 4th quarter valued at $310,000. Wealth Enhancement Advisory Services LLC increased its stake in CoStar Group by 6.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,045 shares of the technology company’s stock worth $1,292,000 after buying an additional 1,070 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new stake in CoStar Group during the 4th quarter worth $9,768,000. Finally, Centaurus Financial Inc. lifted its holdings in CoStar Group by 3.6% in the 4th quarter. Centaurus Financial Inc. now owns 21,598 shares of the technology company’s stock worth $1,546,000 after buying an additional 756 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

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.