CoStar Group (NASDAQ:CSGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, February 27th. The firm currently has a $396.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.45% from the company’s current price.
According to Zacks, “CoStar Group, Inc. provides information services to the commercial real estate industry. Their wide array of digital service offerings includes a leasing marketplace, a selling marketplace, sales comparable information, decision support, contact management, tenant information, property marketing, and industry news. They have three assets that provide a unique foundation for this marketplace: comprehensive national databases; large research department; and large number of participating organizations. “
Other equities analysts also recently issued research reports about the stock. B. Riley increased their price objective on shares of CoStar Group to $400.00 in a research note on Tuesday, February 20th. Needham & Company LLC increased their price objective on shares of CoStar Group to $350.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Goldman Sachs Group assumed coverage on shares of CoStar Group in a research note on Wednesday, November 8th. They set a “buy” rating and a $359.00 price target for the company. SunTrust Banks raised their price target on shares of CoStar Group to $410.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $425.00 price target (up previously from $320.00) on shares of CoStar Group in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $380.10.
Shares of CoStar Group (CSGP) traded up $2.03 during trading on Tuesday, hitting $365.13. 102,109 shares of the stock were exchanged, compared to its average volume of 220,658. CoStar Group has a 12 month low of $197.55 and a 12 month high of $368.33. The company has a market cap of $12,972.08, a P/E ratio of 100.98, a PEG ratio of 3.43 and a beta of 1.61.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The business had revenue of $253.99 million during the quarter, compared to the consensus estimate of $253.74 million. CoStar Group had a net margin of 12.71% and a return on equity of 6.75%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 EPS. equities research analysts forecast that CoStar Group will post 6.25 EPS for the current year.
In other news, CFO Scott T. Wheeler sold 1,250 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $353.69, for a total transaction of $442,112.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Francis Carchedi sold 12,100 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $356.09, for a total transaction of $4,308,689.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,271 shares of company stock valued at $7,509,131. 3.09% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB grew its holdings in CoStar Group by 19.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 3,877 shares of the technology company’s stock worth $1,151,000 after purchasing an additional 628 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of CoStar Group by 2.9% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,468 shares of the technology company’s stock valued at $4,296,000 after buying an additional 403 shares during the last quarter. Ashford Capital Management Inc. grew its holdings in shares of CoStar Group by 3.2% during the fourth quarter. Ashford Capital Management Inc. now owns 35,660 shares of the technology company’s stock valued at $10,589,000 after buying an additional 1,109 shares during the last quarter. Altman Advisors Inc. acquired a new position in shares of CoStar Group during the fourth quarter valued at about $2,083,000. Finally, Gotham Asset Management LLC grew its holdings in shares of CoStar Group by 206.7% during the fourth quarter. Gotham Asset Management LLC now owns 17,597 shares of the technology company’s stock valued at $5,225,000 after buying an additional 11,859 shares during the last quarter. Institutional investors and hedge funds own 98.57% of the company’s stock.
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About CoStar Group
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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