BidaskClub upgraded shares of CoStar Group (NASDAQ:CSGP) from a buy rating to a strong-buy rating in a report issued on Wednesday, March 21st.
CSGP has been the subject of a number of other research reports. B. Riley raised their target price on shares of CoStar Group to $400.00 in a research note on Tuesday, February 20th. Needham & Company LLC raised their target price on shares of CoStar Group to $430.00 and gave the stock a positive rating in a research note on Friday, February 23rd. Citigroup restated a buy rating and set a $425.00 target price (up previously from $320.00) on shares of CoStar Group in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded shares of CoStar Group from a hold rating to a buy rating and set a $396.00 target price for the company in a research note on Tuesday, February 27th. Finally, Wells Fargo set a $400.00 price target on shares of CoStar Group and gave the stock a buy rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. CoStar Group has a consensus rating of Buy and a consensus price target of $380.10.
Shares of NASDAQ CSGP traded down $3.67 during mid-day trading on Wednesday, reaching $364.06. 126,295 shares of the company were exchanged, compared to its average volume of 215,501. The stock has a market cap of $13,273.10, a PE ratio of 94.07, a P/E/G ratio of 3.51 and a beta of 1.52. CoStar Group has a twelve month low of $204.24 and a twelve month high of $378.57.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Wednesday, February 21st. The technology company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.01. The company had revenue of $253.99 million during the quarter, compared to analysts’ expectations of $253.74 million. CoStar Group had a net margin of 12.71% and a return on equity of 6.75%. CoStar Group’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. equities analysts anticipate that CoStar Group will post 6.25 EPS for the current fiscal year.
In related news, Director John W. Hill sold 1,150 shares of the firm’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $361.28, for a total transaction of $415,472.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael R. Klein sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $361.61, for a total transaction of $1,084,830.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,421 shares of company stock worth $9,009,433. 3.09% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. American Capital Management Inc. increased its holdings in CoStar Group by 1.2% in the 4th quarter. American Capital Management Inc. now owns 50,261 shares of the technology company’s stock valued at $14,925,000 after buying an additional 580 shares during the period. Aperio Group LLC increased its holdings in CoStar Group by 29.6% in the 4th quarter. Aperio Group LLC now owns 10,425 shares of the technology company’s stock valued at $3,096,000 after buying an additional 2,383 shares during the period. Bank of Hawaii bought a new position in CoStar Group in the 4th quarter valued at about $450,000. GSA Capital Partners LLP bought a new position in CoStar Group in the 3rd quarter valued at about $274,000. Finally, IBIS Capital Partners LLP bought a new position in CoStar Group in the 3rd quarter valued at about $5,365,000. 98.16% of the stock is currently owned by hedge funds and other institutional investors.
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About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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