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

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have received a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $83.2353.

A number of analysts have commented on the stock. Jefferies Financial Group raised shares of CoStar Group to a “hold” rating in a research note on Wednesday, October 29th. Bank of America set a $74.00 price target on shares of CoStar Group in a research report on Wednesday, January 7th. Needham & Company LLC lowered their price objective on shares of CoStar Group from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Citigroup restated a “market outperform” rating on shares of CoStar Group in a report on Thursday, January 8th. Finally, BTIG Research raised CoStar Group from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, January 27th.

Institutional Trading of CoStar Group

A number of hedge funds have recently made changes to their positions in CSGP. NewSquare Capital LLC lifted its position in CoStar Group by 35.6% during the 2nd quarter. NewSquare Capital LLC now owns 411 shares of the technology company’s stock worth $33,000 after acquiring an additional 108 shares during the last quarter. Emerald Advisers LLC increased its stake in shares of CoStar Group by 1.9% in the second quarter. Emerald Advisers LLC now owns 5,763 shares of the technology company’s stock worth $463,000 after purchasing an additional 110 shares during the period. Empirical Finance LLC lifted its position in shares of CoStar Group by 1.4% during the 2nd quarter. Empirical Finance LLC now owns 8,376 shares of the technology company’s stock worth $673,000 after purchasing an additional 114 shares during the last quarter. Wallace Advisory Group LLC boosted its stake in CoStar Group by 2.5% during the 2nd quarter. Wallace Advisory Group LLC now owns 5,201 shares of the technology company’s stock valued at $412,000 after purchasing an additional 126 shares during the period. Finally, STF Management LP grew its holdings in CoStar Group by 2.1% in the 2nd quarter. STF Management LP now owns 6,269 shares of the technology company’s stock valued at $504,000 after buying an additional 128 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Down 0.1%

Shares of NASDAQ CSGP opened at $44.99 on Tuesday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. CoStar Group has a 12 month low of $43.92 and a 12 month high of $97.43. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 899.80, a P/E/G ratio of 1.18 and a beta of 0.84. The business has a fifty day simple moving average of $61.80 and a 200-day simple moving average of $73.63.

CoStar Group announced that its Board of Directors has approved a share buyback program on Wednesday, January 7th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.