CoStar Group, Inc. (NASDAQ:CSGP) Receives $83.59 Consensus Target Price from Brokerages

CoStar Group, Inc. (NASDAQ:CSGP) has been given a consensus recommendation of “Moderate Buy” by the twenty-four ratings firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $83.3889.

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $68.00 target price on shares of CoStar Group in a research note on Thursday, January 8th. BNP Paribas Exane began coverage on shares of CoStar Group in a research report on Wednesday, January 14th. They issued a “neutral” rating and a $64.00 price objective on the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $91.00 target price on shares of CoStar Group in a research report on Thursday, October 9th. Exane BNP Paribas raised CoStar Group to a “hold” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CoStar Group in a research note on Monday, December 29th.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently added to or reduced their stakes in CSGP. Quent Capital LLC purchased a new stake in shares of CoStar Group during the third quarter worth about $26,000. Rossby Financial LCC increased its stake in CoStar Group by 315.9% during the 2nd quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock valued at $27,000 after purchasing an additional 259 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of CoStar Group in the third quarter worth $28,000. Westside Investment Management Inc. lifted its stake in shares of CoStar Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock worth $30,000 after buying an additional 180 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in shares of CoStar Group during the third quarter valued at $31,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Down 5.0%

CSGP opened at $61.93 on Friday. The firm has a market cap of $26.25 billion, a P/E ratio of 1,238.60, a P/E/G ratio of 1.71 and a beta of 0.84. CoStar Group has a 12 month low of $57.01 and a 12 month high of $97.43. The stock has a 50-day moving average of $65.87 and a 200 day moving average of $77.04. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 28th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. CoStar Group had a return on equity of 2.45% and a net margin of 0.66%.The firm had revenue of $833.60 million during the quarter, compared to analysts’ expectations of $823.62 million. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts forecast that CoStar Group will post 0.94 EPS for the current year.

CoStar Group announced that its board has authorized a stock 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 purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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.