CoStar Group Inc. (NASDAQ:CSGP) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of CoStar Group Inc. (NASDAQ:CSGP) have been assigned a consensus rating of “Buy” from the seven research firms that are covering the company. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $237.75.
A number of equities research analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $235.00 price target on shares of CoStar Group in a research note on Tuesday, July 26th. Zacks Investment Research downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Needham & Company LLC assumed coverage on shares of CoStar Group in a research note on Monday, August 22nd. They issued a “buy” rating and a $240.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of CoStar Group from $229.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Finally, TheStreet raised shares of CoStar Group from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd.
In related news, Director Michael J. Glosserman sold 5,000 shares of CoStar Group stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $206.33, for a total value of $1,031,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.98% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in CoStar Group by 15.1% in the first quarter. Aperio Group LLC now owns 6,751 shares of the company’s stock valued at $1,270,000 after buying an additional 888 shares during the period. Pacad Investment Ltd. purchased a new position in CoStar Group during the first quarter valued at approximately $263,000. Teachers Advisors Inc. boosted its position in CoStar Group by 1.4% in the first quarter. Teachers Advisors Inc. now owns 24,206 shares of the company’s stock valued at $4,555,000 after buying an additional 327 shares during the period. Franklin Resources Inc. boosted its position in CoStar Group by 13.0% in the first quarter. Franklin Resources Inc. now owns 842,140 shares of the company’s stock valued at $158,466,000 after buying an additional 96,561 shares during the period. Finally, BlackRock Inc. boosted its position in CoStar Group by 353.1% in the first quarter. BlackRock Inc. now owns 3,752 shares of the company’s stock valued at $706,000 after buying an additional 2,924 shares during the period.
Shares of CoStar Group (NASDAQ:CSGP) traded down 1.011% during trading on Friday, reaching $211.985. 46,241 shares of the company’s stock were exchanged. The company has a 50 day moving average of $212.00 and a 200 day moving average of $204.50. The stock has a market cap of $6.91 billion, a P/E ratio of 136.588 and a beta of 1.29. CoStar Group has a 12-month low of $146.53 and a 12-month high of $224.79.
CoStar Group (NASDAQ:CSGP) last issued its earnings results on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. CoStar Group had a net margin of 6.33% and a return on equity of 5.74%. The company had revenue of $207 million for the quarter, compared to the consensus estimate of $205.66 million. During the same period in the previous year, the firm earned $0.08 earnings per share. CoStar Group’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities research analysts anticipate that CoStar Group will post $4.11 EPS for the current year.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two segments: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France.
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