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

CoStar Group, Inc. (NASDAQ:CSGP) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $88.31.

CSGP has been the subject of a number of analyst reports. Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating for the company. William Blair initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating for the company. Wells Fargo & Company increased their price target on CoStar Group from $63.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 price target for the company. Finally, Needham & Company LLC increased their price target on CoStar Group from $87.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in CoStar Group in the 4th quarter worth about $25,000. Wayfinding Financial LLC bought a new position in CoStar Group in the 1st quarter worth about $29,000. Bayforest Capital Ltd bought a new position in CoStar Group in the 1st quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in CoStar Group in the 4th quarter worth about $30,000. Finally, GKV Capital Management Co. Inc. bought a new position in CoStar Group in the 1st quarter worth about $31,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $76.99 on Friday. 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 twelve month low of $68.26 and a twelve month high of $87.86. The stock’s 50 day moving average is $78.03 and its 200-day moving average is $76.25. The firm has a market capitalization of $32.48 billion, a price-to-earnings ratio of 219.97 and a beta of 0.89.

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

CoStar Group declared that its board has authorized a stock repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.