Wall Street Zen upgraded shares of CoStar Group (NASDAQ:CSGP – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.
A number of other equities analysts have also weighed in on CSGP. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CoStar Group in a research note on Wednesday, June 24th. BTIG Research restated a “buy” rating and issued a $55.00 price target on shares of CoStar Group in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft set a $44.00 price objective on CoStar Group in a research report on Thursday, April 30th. Wells Fargo & Company set a $26.00 price objective on CoStar Group and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Finally, Benchmark assumed coverage on CoStar Group in a research report on Thursday, June 4th. They issued a “buy” rating and a $45.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.50.
Get Our Latest Stock Analysis on CoStar Group
CoStar Group Stock Performance
CoStar Group (NASDAQ:CSGP – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. CoStar Group had a net margin of 0.74% and a return on equity of 2.90%. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.73 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue was up 22.5% compared to the same quarter last year. On average, analysts forecast that CoStar Group will post 1.03 EPS for the current fiscal year.
Insider Transactions at CoStar Group
In other CoStar Group news, CEO Andrew C. Florance purchased 71,430 shares of the business’s stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $35.20 per share, with a total value of $2,514,336.00. Following the transaction, the chief executive officer directly owned 1,722,865 shares of the company’s stock, valued at $60,644,848. This represents a 4.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.18% of the company’s stock.
Hedge Funds Weigh In On CoStar Group
Several hedge funds have recently modified their holdings of the stock. Reflection Asset Management acquired a new position in CoStar Group during the fourth quarter valued at approximately $27,000. Lloyd Advisory Services LLC. acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of CoStar Group by 25,650.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 515 shares of the technology company’s stock worth $43,000 after purchasing an additional 513 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of CoStar Group during the 3rd quarter worth approximately $48,000. Finally, DV Equities LLC bought a new stake in shares of CoStar Group during the 4th quarter worth approximately $40,000. Institutional investors own 96.60% of the company’s stock.
CoStar Group Company Profile
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.
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