CoStar Group’s (CSGP) Sector Perform Rating Reiterated at Royal Bank of Canada

CoStar Group (NASDAQ:CSGP)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $83.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 4.14% from the stock’s current price.

CSGP has been the subject of several other reports. Keefe, Bruyette & Woods lowered their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating for the company. Finally, Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.54.

CoStar Group Trading Up 0.9 %

Shares of CoStar Group stock opened at $79.70 on Thursday. The firm has a market cap of $32.69 billion, a PE ratio of 227.71 and a beta of 0.88. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. The business’s fifty day moving average is $77.48 and its two-hundred day moving average is $75.92.

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

CoStar Group declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

A number of hedge funds have recently made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new position in CoStar Group during the 4th quarter valued at $25,000. ORG Partners LLC raised its stake in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group during the fourth quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

About CoStar Group

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.