CoStar Group, Inc. (NASDAQ:CSGP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $87.54.

Several research firms have issued reports on CSGP. Needham & Company LLC dropped their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Finally, Stephens reissued an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th.

CoStar Group Stock Up 3.9 %

NASDAQ CSGP opened at $80.87 on Wednesday. CoStar Group has a 52 week low of $68.26 and a 52 week high of $93.94. The stock has a market capitalization of $33.17 billion, a P/E ratio of 231.06 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a fifty day moving average of $77.72 and a 200-day moving average of $76.00.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, equities research analysts forecast that CoStar Group will post 0.94 EPS for the current year.

CoStar Group declared that its board has initiated a stock buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors have recently modified their holdings of the company. Colonial Trust Co SC boosted its position in CoStar Group by 27.4% during the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after acquiring an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP grew its stake in CoStar Group by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock worth $2,105,000 after purchasing an additional 146 shares during the period. Aurora Investment Managers LLC. increased its holdings in CoStar Group by 0.7% in the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company’s stock worth $1,771,000 after purchasing an additional 164 shares in the last quarter. Allworth Financial LP lifted its stake in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after buying an additional 176 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

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.