CoStar Group, Inc. (NASDAQ:CSGP) Receives $93.25 Average Target Price from Analysts

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $93.25.

Several analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Royal Bank of Canada downgraded shares of CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Finally, BMO Capital Markets dropped their price objective on CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company's stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CoStar Group

Institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group during the 3rd quarter valued at $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group during the second quarter worth about $49,000. Quarry LP bought a new stake in CoStar Group in the second quarter worth about $54,000. Rothschild Investment LLC purchased a new position in CoStar Group in the second quarter valued at about $73,000. Finally, Blue Trust Inc. boosted its stake in CoStar Group by 493.4% in the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company's stock valued at $80,000 after acquiring an additional 898 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Price Performance

Shares of CSGP traded down $0.93 during trading hours on Thursday, reaching $69.84. The stock had a trading volume of 3,860,676 shares, compared to its average volume of 2,395,000. 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 12 month low of $68.26 and a 12 month high of $100.38. The stock has a market capitalization of $28.63 billion, a PE ratio of 158.73 and a beta of 0.83. The company's 50-day moving average is $76.25 and its two-hundred day moving average is $75.81.

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

About CoStar Group

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.