CoStar Group (NASDAQ:CSGP) Receives Outperform Rating from William Blair

CoStar Group (NASDAQ:CSGP - Get Free Report)'s stock had its "outperform" rating reissued by analysts at William Blair in a research note issued on Monday,RTT News reports.

Several other equities analysts also recently issued reports on CSGP. 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 research report on Wednesday, October 23rd. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. BMO Capital Markets lowered their price target on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $93.08.

CoStar Group Price Performance

CoStar Group stock traded down $1.04 during mid-day trading on Monday, hitting $71.21. 1,952,749 shares of the company were exchanged, compared to its average volume of 2,090,983. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $75.22 and a 200 day moving average of $75.51. The company has a market capitalization of $29.19 billion, a PE ratio of 161.84 and a beta of 0.85.

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, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during 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 firm's quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. As a group, sell-side analysts expect that CoStar Group will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the business's 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 completion of the transaction, the insider now directly 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. Company insiders own 1.57% of the company's stock.

Institutional Investors Weigh In On CoStar Group

A number of hedge funds have recently modified their holdings of CSGP. Ashton Thomas Securities LLC bought a new stake in CoStar Group during the 3rd quarter worth approximately $40,000. Quarry LP acquired a new position in shares of CoStar Group in the second quarter valued at approximately $54,000. Brooklyn Investment Group bought a new stake in shares of CoStar Group during the third quarter worth $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CoStar Group during the second quarter worth $104,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company's stock valued at $104,000 after acquiring an additional 488 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

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.