CoStar Group (NASDAQ:CSGP) Price Target Raised to $65.00

CoStar Group (NASDAQ:CSGP) had its target price lifted by Wells Fargo & Company from $63.00 to $65.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. Craig Hallum began coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $85.00 target price on shares of CoStar Group in a research note on Wednesday. Citigroup reduced their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. Finally, Needham & Company LLC lifted their target price on CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.31.

CoStar Group Stock Up 1.8 %

Shares of NASDAQ CSGP opened at $77.96 on Wednesday. CoStar Group has a 1 year low of $68.26 and a 1 year high of $92.74. The firm’s 50-day moving average is $78.28 and its 200-day moving average is $76.23. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.97 billion, a PE ratio of 222.74 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities analysts expect that CoStar Group will post 0.94 EPS for the current year.

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

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by insiders.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently modified their holdings of CSGP. Barclays PLC raised its stake in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in CoStar Group during the third quarter worth $256,000. Tidal Investments LLC lifted its stake in CoStar Group by 292.0% in the third quarter. Tidal Investments LLC now owns 73,184 shares of the technology company’s stock valued at $5,521,000 after acquiring an additional 54,515 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of CoStar Group by 7.7% during the 4th quarter. GAMMA Investing LLC now owns 4,938 shares of the technology company’s stock worth $354,000 after purchasing an additional 355 shares during the last quarter. 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.