CoStar Group Inc. (NASDAQ:CSGP) Receives $237.75 Average Target Price from Analysts
Shares of CoStar Group Inc. (NASDAQ:CSGP) have received an average rating of “Buy” from the seven ratings firms that are currently covering the company. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $237.75.
A number of equities analysts have recently issued reports on CSGP shares. JMP Securities increased their price objective on shares of CoStar Group from $215.00 to $230.00 and gave the company a “market outperform” rating in a research note on Thursday, July 28th. Zacks Investment Research downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of CoStar Group in a research note on Friday, September 30th. TheStreet upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of CoStar Group from $229.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, July 29th.
Shares of CoStar Group (NASDAQ:CSGP) opened at 211.57 on Friday. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 136.32 and a beta of 1.29. CoStar Group has a 52 week low of $146.53 and a 52 week high of $224.79. The firm’s 50-day moving average is $212.11 and its 200-day moving average is $204.66.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.08. CoStar Group had a net margin of 6.33% and a return on equity of 5.74%. The firm had revenue of $207 million for the quarter, compared to the consensus estimate of $205.66 million. During the same period last year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Analysts forecast that CoStar Group will post $4.11 earnings per share for the current fiscal year.
In other CoStar Group news, Director Michael J. Glosserman sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $206.33, for a total value of $1,031,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.98% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of CoStar Group during the second quarter valued at $67,099,000. Bares Capital Management Inc. purchased a new stake in shares of CoStar Group during the second quarter valued at $58,516,000. Luxor Capital Group LP purchased a new stake in shares of CoStar Group during the second quarter valued at $52,575,000. Vanguard Group Inc. increased its stake in shares of CoStar Group by 6.6% in the second quarter. Vanguard Group Inc. now owns 2,302,559 shares of the company’s stock valued at $503,477,000 after buying an additional 142,623 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of CoStar Group by 13.0% in the first quarter. Franklin Resources Inc. now owns 842,140 shares of the company’s stock valued at $158,466,000 after buying an additional 96,561 shares during the period.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two segments: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France.
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