CoStar Group Inc (NASDAQ:CSGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $282.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.02% from the stock’s previous close.
According to Zacks, “CoStar Group, Inc. provides information services to the commercial real estate industry. Their wide array of digital service offerings includes a leasing marketplace, a selling marketplace, sales comparable information, decision support, contact management, tenant information, property marketing, and industry news. They have three assets that provide a unique foundation for this marketplace: comprehensive national databases; large research department; and large number of participating organizations. “
A number of other equities research analysts also recently commented on CSGP. TheStreet upgraded CoStar Group from a “c+” rating to a “b” rating in a research report on Thursday, February 23rd. B. Riley restated a “buy” rating and set a $231.00 price objective on shares of CoStar Group in a research report on Monday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $235.00 price objective on shares of CoStar Group in a research report on Monday, March 27th. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $262.40.
Shares of CoStar Group (NASDAQ:CSGP) traded up 0.79% during trading on Friday, hitting $253.75. The stock had a trading volume of 130,640 shares. The company has a market cap of $8.31 billion, a PE ratio of 91.28 and a beta of 1.44. CoStar Group has a 12 month low of $179.21 and a 12 month high of $257.25. The stock has a 50 day moving average of $227.66 and a 200 day moving average of $205.41.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Wednesday, April 26th. The technology company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $227 million for the quarter, compared to the consensus estimate of $224.69 million. CoStar Group had a return on equity of 6.90% and a net margin of 9.66%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Equities analysts forecast that CoStar Group will post $4.37 EPS for the current fiscal year.
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In other news, CEO Andrew C. Florance sold 21,768 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $244.73, for a total transaction of $5,327,282.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Francis Carchedi sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $245.04, for a total value of $1,347,720.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,025 shares of company stock worth $29,990,173. Insiders own 2.98% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in CoStar Group during the first quarter worth approximately $124,000. Penserra Capital Management LLC boosted its position 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 valued at $152,000 after buying an additional 64 shares during the period. Daiwa Securities Group Inc. boosted its position 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 valued at $186,000 after buying an additional 750 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CoStar Group by 14.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 988 shares of the technology company’s stock valued at $214,000 after buying an additional 128 shares during the period. Finally, Tredje AP fonden purchased a new position in shares of CoStar Group during the first quarter valued at about $222,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.
About CoStar Group
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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