CoStar Group (NASDAQ:CSGP) Earns Market Outperform Rating from JMP Securities

CoStar Group (NASDAQ:CSGPGet Free Report)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $110.00 price target on the technology company’s stock. JMP Securities’ price objective suggests a potential upside of 51.24% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Robert W. Baird increased their price objective on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Bank of America increased their price objective on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, The Goldman Sachs Group increased their price objective on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

Check Out Our Latest Report on CoStar Group

CoStar Group Stock Down 0.6 %

CSGP stock opened at $72.73 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The company has a market capitalization of $29.70 billion, a price-to-earnings ratio of 99.63, a PEG ratio of 10.90 and a beta of 0.83. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The stock has a fifty day moving average of $84.66 and a 200-day moving average of $86.05.

CoStar Group (NASDAQ:CSGPGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. As a group, equities research analysts predict that CoStar Group will post 0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares in the company, valued at approximately $5,938,942.29. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the sale, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CoStar Group

Large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in shares of CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after buying an additional 173 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter worth approximately $31,000. Riverview Trust Co bought a new stake in shares of CoStar Group in the 1st quarter worth approximately $35,000. Pinnacle Bancorp Inc. bought a new stake in shares of CoStar Group in the 4th quarter worth approximately $37,000. Finally, RiverPark Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter worth approximately $37,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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