CoStar Group (NASDAQ:CSGP) PT Raised to $80.00 at Needham & Company LLC

CoStar Group (NASDAQ:CSGPGet Rating) had its price objective upped by Needham & Company LLC from $77.00 to $80.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 12.80% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Citigroup raised their target price on shares of CoStar Group from $65.00 to $70.00 in a report on Wednesday, April 27th. Royal Bank of Canada lifted their price target on shares of CoStar Group from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, April 11th. Finally, StockNews.com initiated coverage on shares of CoStar Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $79.88.

CoStar Group Price Performance

CSGP stock opened at $70.92 on Wednesday. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 0.17. CoStar Group has a 12 month low of $49.00 and a 12 month high of $101.05. The firm has a market cap of $28.10 billion, a P/E ratio of 84.43 and a beta of 0.86. The company’s 50-day moving average price is $60.33 and its two-hundred day moving average price is $62.82.

CoStar Group (NASDAQ:CSGPGet Rating) last released its earnings results on Tuesday, July 26th. The technology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.17 by $0.11. CoStar Group had a net margin of 16.03% and a return on equity of 7.36%. During the same period last year, the company posted $0.22 EPS. On average, analysts anticipate that CoStar Group will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Hill sold 1,750 shares of CoStar Group stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $57.07, for a total transaction of $99,872.50. Following the sale, the director now directly owns 21,998 shares in the company, valued at approximately $1,255,425.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John W. Hill sold 1,750 shares of CoStar Group stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $57.07, for a total transaction of $99,872.50. Following the sale, the director now directly owns 21,998 shares in the company, valued at approximately $1,255,425.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Desmarais sold 1,000 shares of CoStar Group stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $63.14, for a total transaction of $63,140.00. Following the sale, the insider now owns 41,619 shares in the company, valued at $2,627,823.66. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ten Capital Wealth Advisors LLC acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $37,000. Amplius Wealth Advisors LLC acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $41,000. Allworth Financial LP lifted its position in shares of CoStar Group by 16,125.0% in the 1st quarter. Allworth Financial LP now owns 649 shares of the technology company’s stock worth $43,000 after purchasing an additional 645 shares during the period. Confluence Wealth Services Inc. acquired a new position in shares of CoStar Group during the 4th quarter valued at $53,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of CoStar Group by 46.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 731 shares of the technology company’s stock valued at $44,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 94.52% of the company’s stock.

About CoStar Group

(Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

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