CoStar Group, Inc. (NASDAQ:CSGP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been assigned an average recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $83.2353.

CSGP has been the subject of a number of research analyst reports. Wells Fargo & Company set a $48.00 price objective on shares of CoStar Group and gave the company an “underweight” rating in a research report on Wednesday, February 4th. Zacks Research downgraded CoStar Group from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d)” rating on shares of CoStar Group in a report on Monday, December 29th. BNP Paribas Exane assumed coverage on CoStar Group in a research note on Wednesday, January 14th. They issued a “neutral” rating and a $64.00 target price for the company. Finally, BTIG Research raised CoStar Group from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, January 27th.

CoStar Group Price Performance

NASDAQ:CSGP opened at $44.99 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 3.12. CoStar Group has a one year low of $43.92 and a one year high of $97.43. The company has a fifty day moving average price of $61.80 and a 200 day moving average price of $73.63. The stock has a market cap of $19.07 billion, a P/E ratio of 899.80, a PEG ratio of 1.18 and a beta of 0.84.

CoStar Group declared that its board has approved a share repurchase program on Wednesday, January 7th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC bought a new stake in CoStar Group during the 3rd quarter worth approximately $26,000. Rossby Financial LCC boosted its stake in CoStar Group by 315.9% in the second quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock worth $27,000 after purchasing an additional 259 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of CoStar Group during the third quarter worth $28,000. Lloyd Advisory Services LLC. bought a new stake in shares of CoStar Group during the fourth quarter worth $29,000. Finally, Westside Investment Management Inc. increased its stake in shares of CoStar Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock valued at $30,000 after buying an additional 180 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.