CoStar Group, Inc. (CSGP) Downgraded by BidaskClub to Buy
BidaskClub cut shares of CoStar Group, Inc. (NASDAQ:CSGP) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.
CSGP has been the topic of a number of other research reports. Zacks Investment Research raised shares of CoStar Group from a hold rating to a buy rating and set a $272.00 price target on the stock in a report on Tuesday, May 2nd. Needham & Company LLC increased their price target on shares of CoStar Group from $235.00 to $275.00 and gave the stock a buy rating in a report on Friday, April 28th. Finally, Stephens reissued an overweight rating and issued a $275.00 price target (up previously from $260.00) on shares of CoStar Group in a report on Monday, June 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $278.14.
Shares of CoStar Group (NASDAQ CSGP) traded down 0.51% during mid-day trading on Friday, reaching $271.62. 141,605 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $257.82 and a 200 day moving average price of $219.80. CoStar Group has a 52-week low of $179.21 and a 52-week high of $278.30. The firm has a market cap of $8.90 billion, a P/E ratio of 97.71 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Wednesday, April 26th. The technology company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.11. The firm had revenue of $227 million for the quarter, compared to analyst estimates of $224.69 million. CoStar Group had a net margin of 10.47% and a return on equity of 7.23%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. Analysts forecast that CoStar Group will post $4.37 earnings per share for the current fiscal year.
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In other news, CFO Scott T. Wheeler sold 757 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $240.00, for a total value of $181,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Hill sold 440 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $244.52, for a total transaction of $107,588.80. The disclosure for this sale can be found here. Insiders sold a total of 114,806 shares of company stock valued at $28,471,690 in the last ninety days. 2.98% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of CoStar Group during the first quarter worth about $124,000. Penserra Capital Management LLC boosted its stake in shares of CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock worth $152,000 after buying an additional 64 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock worth $186,000 after buying an additional 750 shares during the period. Capstone Asset Management Co. acquired a new stake in shares of CoStar Group during the second quarter worth about $211,000. Finally, Tredje AP fonden acquired a new stake in shares of CoStar Group during the first quarter worth about $222,000.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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