CoStar Group’s (CSGP) “Buy” Rating Reiterated at B. Riley
CoStar Group, Inc. (NASDAQ:CSGP)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a research report issued on Friday. They currently have a $325.00 price objective on the technology company’s stock. B. Riley’s target price would indicate a potential upside of 19.65% from the stock’s previous close.
CSGP has been the topic of several other reports. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $293.00 target price on the stock in a report on Thursday, June 1st. SunTrust Banks, Inc. raised their target price on shares of CoStar Group from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. Stephens restated an “overweight” rating and set a $275.00 target price (up from $260.00) on shares of CoStar Group in a report on Monday, June 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $235.00 target price on shares of CoStar Group in a report on Monday, March 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $278.14.
Shares of CoStar Group (CSGP) traded down 0.51% on Friday, reaching $271.62. 141,605 shares of the company were exchanged. CoStar Group has a 12 month low of $179.22 and a 12 month high of $274.24. The stock has a market capitalization of $8.90 billion, a P/E ratio of 97.71 and a beta of 1.51. The stock has a 50 day moving average price of $257.82 and a 200-day moving average price of $219.80.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Wednesday, April 26th. The technology company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $227 million for the quarter, compared to the consensus estimate of $224.69 million. CoStar Group had a net margin of 10.47% and a return on equity of 7.23%. CoStar Group’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. On average, equities analysts expect that CoStar Group will post $4.37 EPS for the current fiscal year.
In related news, Director Michael R. Klein sold 20,000 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $265.01, for a total value of $5,300,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Hill sold 440 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $244.52, for a total transaction of $107,588.80. The disclosure for this sale can be found here. Insiders sold 114,806 shares of company stock valued at $28,471,690 over the last three months. 2.98% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CSGP. BNP Paribas Arbitrage SA purchased a new position in CoStar Group during the third quarter valued at $103,000. Penserra Capital Management LLC boosted its position in CoStar Group by 100.0% in the third quarter. Penserra Capital Management LLC now owns 576 shares of the technology company’s stock worth $124,000 after buying an additional 288 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in CoStar Group during the first quarter worth approximately $124,000. Quantbot Technologies LP bought a new position in CoStar Group during the third quarter worth approximately $156,000. Finally, Daiwa Securities Group Inc. boosted its position in CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock worth $186,000 after buying an additional 750 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 and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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