CoStar Group Inc (CSGP) Receives $451.44 Consensus PT from Analysts
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.
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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