CoStar Group, Inc. (CSGP) PT Raised to $300.00 at Needham & Company LLC
CoStar Group, Inc. (NASDAQ:CSGP) had its price target increased by Needham & Company LLC from $275.00 to $300.00 in a report released on Friday, MarketBeat Ratings reports. They currently have a buy rating on the technology company’s stock.
A number of other research firms also recently commented on CSGP. B. Riley reiterated a buy rating and issued a $325.00 price objective on shares of CoStar Group in a report on Friday, July 14th. BidaskClub downgraded shares of CoStar Group from a strong-buy rating to a buy rating in a report on Sunday, July 16th. SunTrust Banks, Inc. increased their price objective on shares of CoStar Group from $275.00 to $310.00 and gave the company a buy rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded shares of CoStar Group from a buy rating to a hold rating in a report on Tuesday, June 27th. Finally, Stephens reiterated an overweight rating and issued a $275.00 price objective (up previously from $260.00) on shares of CoStar Group in a report on Monday, June 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $303.67.
Shares of CoStar Group (CSGP) opened at 276.985 on Friday. The firm’s 50-day moving average price is $267.48 and its 200 day moving average price is $232.54. The company has a market capitalization of $9.09 billion, a PE ratio of 92.979 and a beta of 1.51. CoStar Group has a 52 week low of $179.22 and a 52 week high of $284.47.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.23. The company had revenue of $237.20 million during the quarter, compared to the consensus estimate of $234.38 million. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. CoStar Group’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities analysts predict that CoStar Group will post $4.43 EPS for the current year.
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In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew C. Florance sold 21,768 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $244.19, for a total transaction of $5,315,527.92. The disclosure for this sale can be found here. Insiders have sold a total of 85,304 shares of company stock valued at $21,258,538 in the last 90 days. Insiders own 2.98% of the company’s stock.
Several hedge funds have recently made changes to their positions in CSGP. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of CoStar Group during the first quarter worth about $124,000. Penserra Capital Management LLC increased its stake in shares of 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 in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of 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 in the last quarter. LS Investment Advisors LLC increased its stake in shares of 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 in the last quarter. Finally, Capstone Asset Management Co. purchased a new stake in shares of CoStar Group during the second quarter worth about $211,000.
CoStar Group Company Profile
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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