Jefferies Financial Group Weighs in on CoStar Group, Inc.’s FY2023 Earnings (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) – Equities research analysts at Jefferies Financial Group dropped their FY2023 EPS estimates for shares of CoStar Group in a report issued on Wednesday, February 22nd. Jefferies Financial Group analyst S. Moore now forecasts that the technology company will post earnings per share of $0.91 for the year, down from their prior forecast of $1.13. The consensus estimate for CoStar Group’s current full-year earnings is $0.92 per share.

Several other brokerages also recently commented on CSGP. Stephens reduced their target price on shares of CoStar Group from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. JPMorgan Chase & Co. began coverage on shares of CoStar Group in a report on Friday, December 16th. They set an “overweight” rating and a $100.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and set a $85.00 target price on shares of CoStar Group in a report on Wednesday, February 22nd. BMO Capital Markets dropped their price objective on shares of CoStar Group from $84.00 to $68.00 and set a “market perform” rating for the company in a research note on Wednesday, February 22nd. Finally, The Goldman Sachs Group lowered their price objective on shares of CoStar Group from $102.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $86.25.

CoStar Group Stock Performance

Shares of CSGP opened at $70.73 on Monday. The firm has a 50-day moving average of $77.33 and a 200-day moving average of $76.47. CoStar Group has a one year low of $53.25 and a one year high of $85.37. The company has a market cap of $28.77 billion, a PE ratio of 76.05, a price-to-earnings-growth ratio of 3.87 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.92 and a quick ratio of 15.36.

Institutional Trading of CoStar Group

A number of hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of CoStar Group by 30.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 125,426 shares of the technology company’s stock valued at $9,693,000 after buying an additional 29,154 shares in the last quarter. National Pension Service raised its position in shares of CoStar Group by 2.0% in the 4th quarter. National Pension Service now owns 493,226 shares of the technology company’s stock worth $38,117,000 after purchasing an additional 9,720 shares during the last quarter. Linden Thomas Advisory Services LLC purchased a new position in shares of CoStar Group in the 4th quarter worth about $2,585,000. Alliancebernstein L.P. raised its position in shares of CoStar Group by 3.1% in the 4th quarter. Alliancebernstein L.P. now owns 514,574 shares of the technology company’s stock worth $39,766,000 after purchasing an additional 15,549 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of CoStar Group in the 4th quarter worth about $30,000. Institutional investors own 97.80% of the company’s stock.

CoStar Group Company Profile

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CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.