CoStar Group, Inc. (CSGP) Price Target Raised to $325.00
CoStar Group, Inc. (NASDAQ:CSGP) had its price objective raised by investment analysts at Needham & Company LLC from $300.00 to $325.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 14.72% from the company’s current price.
A number of other equities analysts have also weighed in on CSGP. Zacks Investment Research upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. B. Riley reiterated a “buy” rating and set a $275.00 target price on shares of CoStar Group in a research report on Friday, April 28th. Finally, Stephens reiterated an “overweight” rating and set a $275.00 target price (up previously from $260.00) on shares of CoStar Group in a research report on Monday, June 19th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $313.67.
Shares of CoStar Group (NASDAQ:CSGP) opened at 283.30 on Thursday. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 95.10 and a beta of 1.51. CoStar Group has a 52 week low of $179.21 and a 52 week high of $286.00. The firm has a 50-day moving average of $274.68 and a 200 day moving average of $238.79.
CoStar Group (NASDAQ:CSGP) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. The firm had revenue of $237.20 million during the quarter, compared to analyst estimates of $234.38 million. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business earned $0.91 earnings per share. On average, equities analysts predict that CoStar Group will post $4.49 earnings per share for the current fiscal year.
In other news, VP Matthew Linnington sold 1,767 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $265.01, for a total transaction of $5,300,200.00. The disclosure for this sale can be found here. 2.98% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CSGP. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in CoStar Group during the first quarter worth approximately $124,000. Robeco Institutional Asset Management B.V. purchased a new position in CoStar Group during the second quarter worth approximately $134,000. Penserra Capital Management LLC raised its position in CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock worth $152,000 after buying an additional 64 shares during the period. Daiwa Securities Group Inc. raised 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. Finally, LS Investment Advisors LLC raised its position in CoStar Group by 3.5% in the second quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $186,000 after buying an additional 24 shares during the period. Institutional investors own 99.66% of the company’s stock.
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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