Shares of CoStar Group Inc (NASDAQ:CSGP) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $451.44.

A number of brokerages have recently weighed in on CSGP. ValuEngine lowered CoStar Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. BidaskClub lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “buy” rating and set a $401.00 price target on the stock in a research note on Friday, October 26th. Finally, Needham & Company LLC boosted their price target on CoStar Group from $475.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 12th.

In related news, Director Christopher J. Nassetta sold 571 shares of CoStar Group stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $349.67, for a total transaction of $199,661.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.47% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in shares of CoStar Group by 93.6% during the second quarter. Morgan Stanley now owns 87,545 shares of the technology company’s stock worth $36,124,000 after purchasing an additional 42,330 shares during the period. BlackRock Inc. lifted its holdings in shares of CoStar Group by 9.8% during the second quarter. BlackRock Inc. now owns 2,820,677 shares of the technology company’s stock worth $1,163,897,000 after purchasing an additional 252,916 shares during the period. Vident Investment Advisory LLC lifted its holdings in shares of CoStar Group by 73.6% during the second quarter. Vident Investment Advisory LLC now owns 2,495 shares of the technology company’s stock worth $1,029,000 after purchasing an additional 1,058 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of CoStar Group by 18.8% during the third quarter. IFM Investors Pty Ltd now owns 1,798 shares of the technology company’s stock worth $757,000 after purchasing an additional 285 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of CoStar Group by 24.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 177,511 shares of the technology company’s stock worth $74,704,000 after purchasing an additional 34,737 shares during the period. 95.89% of the stock is owned by hedge funds and other institutional investors.

Shares of CSGP stock opened at $357.48 on Tuesday. CoStar Group has a fifty-two week low of $285.00 and a fifty-two week high of $448.35. The stock has a market cap of $13.02 billion, a PE ratio of 92.37, a price-to-earnings-growth ratio of 2.99 and a beta of 1.51.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 23rd. The technology company reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.08 by $0.08. CoStar Group had a return on equity of 7.63% and a net margin of 17.61%. The business had revenue of $305.53 million for the quarter, compared to analyst estimates of $305.99 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The company’s revenue was up 23.4% on a year-over-year basis. As a group, research analysts forecast that CoStar Group will post 7.13 EPS for the current fiscal year.

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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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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