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

CoStar Group, Inc. (NASDAQ:CSGP) has been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $100.08.

A number of research firms have recently commented on CSGP. BMO Capital Markets reduced their target price on shares of CoStar Group from $84.00 to $79.00 and set a “market perform” rating on the stock in a research report on Thursday, February 22nd. Robert W. Baird raised their target price on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research report on Friday, April 12th. Needham & Company LLC reduced their price target on CoStar Group from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Finally, BTIG Research started coverage on CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating for the company.

CoStar Group Trading Down 1.0 %

Shares of CSGP opened at $85.46 on Friday. The firm has a market capitalization of $34.90 billion, a P/E ratio of 92.89, a price-to-earnings-growth ratio of 10.06 and a beta of 0.84. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $89.03 and its 200 day simple moving average is $84.34. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. On average, equities research analysts forecast that CoStar Group will post 0.44 earnings per share for the current year.

Institutional Trading of CoStar Group

Several hedge funds have recently bought and sold shares of CSGP. Vanguard Group Inc. raised its holdings in shares of CoStar Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company’s stock valued at $2,315,223,000 after buying an additional 204,955 shares during the last quarter. BlackRock Inc. boosted its position in CoStar Group by 0.9% during the 1st quarter. BlackRock Inc. now owns 31,917,467 shares of the technology company’s stock worth $2,197,518,000 after acquiring an additional 286,782 shares during the period. Principal Financial Group Inc. grew its stake in shares of CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after purchasing an additional 761,383 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of CoStar Group by 0.5% during the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock valued at $1,476,019,000 after purchasing an additional 91,399 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of CoStar Group by 5.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after purchasing an additional 596,595 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.