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

CoStar Group, Inc. (NASDAQ:CSGP) has received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $87.54.

A number of research firms have recently weighed in on CSGP. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and set a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Piper Sandler started coverage on CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating for the company. Finally, Bank of America started coverage on CoStar Group in a research note on Friday, May 30th. They issued a “neutral” rating and a $79.00 price objective for the company.

CoStar Group Stock Up 0.9%

Shares of NASDAQ:CSGP opened at $81.79 on Thursday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $77.13 and a two-hundred day moving average of $76.37. The stock has a market cap of $34.51 billion, a P/E ratio of 233.69 and a beta of 0.87. CoStar Group has a 52-week low of $68.26 and a 52-week high of $83.68.

CoStar Group announced that its board has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of CoStar Group

A number of large investors have recently made changes to their positions in CSGP. Steward Partners Investment Advisory LLC raised its holdings in shares of CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock worth $511,000 after purchasing an additional 5,940 shares during the period. Allworth Financial LP grew its stake in CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after purchasing an additional 173 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in CoStar Group by 6.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 482,712 shares of the technology company’s stock valued at $34,190,000 after purchasing an additional 31,152 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after acquiring an additional 176 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.