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CoStar Group (NASDAQ:CSGP) Price Target Lowered to $88.00 at Citigroup

CoStar Group logo with Computer and Technology background

CoStar Group (NASDAQ:CSGP - Free Report) had its price objective lowered by Citigroup from $90.00 to $88.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

CSGP has been the topic of several other research reports. Needham & Company LLC restated a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. JMP Securities restated a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Stephens reiterated an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research note on Thursday, January 2nd. Royal Bank of Canada reissued a "sector perform" rating and set a $83.00 price objective on shares of CoStar Group in a report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and an average target price of $92.92.

Get Our Latest Research Report on CoStar Group

CoStar Group Stock Up 0.5 %

Shares of NASDAQ CSGP traded up $0.32 during trading on Tuesday, hitting $69.61. 3,775,856 shares of the company traded hands, compared to its average volume of 2,483,346. The firm has a market capitalization of $28.54 billion, a price-to-earnings ratio of 158.21 and a beta of 0.85. The business's fifty day moving average is $74.83 and its 200 day moving average is $75.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities research analysts predict that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company's stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CoStar Group

A number of large investors have recently made changes to their positions in CSGP. Private Advisor Group LLC boosted its stake in CoStar Group by 58.1% in the 2nd quarter. Private Advisor Group LLC now owns 10,048 shares of the technology company's stock worth $745,000 after purchasing an additional 3,691 shares during the period. Acadian Asset Management LLC bought a new position in shares of CoStar Group in the second quarter valued at approximately $816,000. Thoroughbred Financial Services LLC purchased a new position in CoStar Group during the second quarter valued at approximately $527,000. Dimensional Fund Advisors LP increased its holdings in CoStar Group by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,697,933 shares of the technology company's stock worth $125,889,000 after acquiring an additional 219,758 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in CoStar Group during the 2nd quarter worth approximately $46,692,000. 96.60% of the stock is owned by institutional investors.

CoStar Group Company Profile

(Get Free Report)

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.

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