CoStar Group Inc. (NASDAQ:CSGP) Receives Consensus Recommendation of “Buy” from Brokerages
CoStar Group Inc. (NASDAQ:CSGP) has earned a consensus rating of “Buy” from the seven research firms that are currently covering the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $237.75.
Several analysts have issued reports on CSGP shares. TheStreet raised shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Wednesday, June 22nd. B. Riley reaffirmed a “buy” rating and issued a $235.00 price objective on shares of CoStar Group in a research report on Tuesday, July 26th. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a research report on Monday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of CoStar Group in a research report on Friday, September 30th. Finally, JMP Securities raised their price target on shares of CoStar Group from $215.00 to $230.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 28th.
CoStar Group (NASDAQ:CSGP) traded down 1.011% during mid-day trading on Friday, reaching $211.985. 46,241 shares of the company traded hands. 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 $212.00 and its 200 day moving average is $204.50. The stock has a market capitalization of $6.91 billion, a PE ratio of 136.588 and a beta of 1.29.
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CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $205.66 million. During the same quarter last year, the firm posted $0.08 earnings per share. CoStar Group’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities research analysts expect that CoStar Group will post $4.11 earnings per share for the current year.
In other CoStar Group news, Director Michael J. Glosserman sold 5,000 shares of CoStar Group stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.98% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CSGP. Goldman Sachs Group Inc. increased its position in CoStar Group by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 168,679 shares of the company’s stock worth $31,740,000 after buying an additional 18,069 shares in the last quarter. Daruma Capital Management LLC increased its position in CoStar Group by 18.5% in the first quarter. Daruma Capital Management LLC now owns 301,006 shares of the company’s stock worth $56,640,000 after buying an additional 46,952 shares in the last quarter. Geode Capital Management LLC increased its position in CoStar Group by 3.9% in the first quarter. Geode Capital Management LLC now owns 204,864 shares of the company’s stock worth $38,549,000 after buying an additional 7,763 shares in the last quarter. GW&K Investment Management LLC increased its position in CoStar Group by 17.8% in the second quarter. GW&K Investment Management LLC now owns 72,626 shares of the company’s stock worth $15,880,000 after buying an additional 10,982 shares in the last quarter. Finally, BlackRock Inc. increased its position in CoStar Group by 353.1% in the first quarter. BlackRock Inc. now owns 3,752 shares of the company’s stock worth $706,000 after buying an additional 2,924 shares in the last quarter.
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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