CoStar Group (NASDAQ:CSGP) Receives "Market Outperform" Rating from JMP Securities

CoStar Group (NASDAQ:CSGP - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a research note issued to investors on Monday,Benzinga reports. They currently have a $90.00 price objective on the technology company's stock. JMP Securities' target price points to a potential upside of 19.65% from the company's current price.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets cut their price target 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. Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Price Performance

Shares of NASDAQ:CSGP traded up $0.15 during trading on Monday, hitting $75.22. 2,371,023 shares of the company were exchanged, compared to its average volume of 2,380,458. 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 has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a market capitalization of $30.84 billion, a P/E ratio of 170.96 and a beta of 0.83. The business's 50 day moving average is $76.49 and its 200-day moving average is $75.93.

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. The firm 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 business's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Equities analysts forecast that CoStar Group will post 0.52 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vulcan Value Partners LLC grew its stake in CoStar Group by 90.1% in the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock worth $306,831,000 after purchasing an additional 1,961,917 shares during the period. Barclays PLC lifted its holdings in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the last quarter. Select Equity Group L.P. bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $60,761,000. State Street Corp grew its stake in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock worth $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in CoStar Group during the 3rd quarter valued at approximately $48,768,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Company Profile

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.