Needham & Company LLC reaffirmed their buy rating on shares of CoStar Group Inc. (NASDAQ:CSGP) in a research note issued to investors on Friday morning. The firm currently has a $240.00 target price on the stock.
CSGP has been the subject of a number of other reports. Zacks Investment Research upgraded shares of CoStar Group from a hold rating to a buy rating and set a $230.00 price objective for the company in a report on Monday, August 1st. JMP Securities raised their price target on shares of CoStar Group from $215.00 to $230.00 and gave the company a market outperform rating in a research report on Thursday, July 28th. B. Riley reissued a buy rating and set a $235.00 price target on shares of CoStar Group in a research report on Tuesday, July 26th. JPMorgan Chase & Co. raised their price target on shares of CoStar Group from $229.00 to $250.00 and gave the company an overweight rating in a research report on Friday, July 29th. Finally, TheStreet raised shares of CoStar Group from a hold rating to a buy rating in a research report on Wednesday, June 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $236.20.
Shares of CoStar Group (NASDAQ:CSGP) traded down 0.12% on Friday, hitting $216.26. 5,944 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $211.19 and its 200 day moving average is $203.60. The firm has a market cap of $7.05 billion, a P/E ratio of 139.34 and a beta of 1.29. CoStar Group has a 12 month low of $146.53 and a 12 month high of $224.79.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The firm earned $207 million during the quarter, compared to analysts’ expectations of $205.66 million. CoStar Group had a net margin of 6.33% and a return on equity of 5.74%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. On average, equities analysts predict that CoStar Group will post $4.11 earnings per share for the current year.
In other CoStar Group news, Director Michael J. Glosserman sold 5,000 shares of CoStar Group stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $206.33, for a total value of $1,031,650.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.98% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in CoStar Group during the fourth quarter valued at about $48,149,000. Aperio Group LLC raised its stake in CoStar Group by 15.1% in the first quarter. Aperio Group LLC now owns 6,751 shares of the company’s stock valued at $1,270,000 after buying an additional 888 shares during the period. Pacad Investment Ltd. acquired a new stake in CoStar Group during the first quarter valued at about $263,000. Teachers Advisors Inc. raised its stake in CoStar Group by 1.4% in the first quarter. Teachers Advisors Inc. now owns 24,206 shares of the company’s stock valued at $4,555,000 after buying an additional 327 shares during the period. Finally, Franklin Resources Inc. raised its stake in CoStar Group by 13.0% in the first quarter. Franklin Resources Inc. now owns 842,140 shares of the company’s stock valued at $158,466,000 after buying an additional 96,561 shares during the period.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two segments: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France.
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