CoStar Group's (CSGP) "Overweight" Rating Reiterated at Stephens

CoStar Group (NASDAQ:CSGP - Get Free Report)'s stock had its "overweight" rating reissued by stock analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $103.00 price target on the technology company's stock. Stephens' target price would suggest a potential upside of 45.42% from the company's previous close.

Several other research firms have also weighed in on CSGP. Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada cut CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price objective on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.08.

CoStar Group Stock Performance

CoStar Group stock traded down $0.76 during trading hours on Thursday, hitting $70.83. The stock had a trading volume of 2,471,437 shares, compared to its average volume of 2,401,117. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a market cap of $29.04 billion, a PE ratio of 160.98 and a beta of 0.83. The company has a 50-day moving average of $75.33 and a two-hundred day moving average of $75.49. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the business's stock in a transaction dated Friday, October 25th. The shares were acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the company'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 transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares of the company's stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company's stock.

Institutional Investors Weigh In On CoStar Group

Institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group in the third quarter valued at about $40,000. Quarry LP acquired a new position in CoStar Group during the 2nd quarter worth approximately $54,000. Rothschild Investment LLC bought a new position in shares of CoStar Group during the 2nd quarter worth approximately $73,000. Brooklyn Investment Group acquired a new stake in shares of CoStar Group in the third quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of CoStar Group in the second quarter worth $104,000. 96.60% of the stock is owned by institutional investors.

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.