Needham & Company LLC Reaffirms Buy Rating for CoStar Group (NASDAQ:CSGP)

Needham & Company LLC reiterated their buy rating on shares of CoStar Group (NASDAQ:CSGP - Free Report) in a report released on Monday,Benzinga reports. Needham & Company LLC currently has a $100.00 price target on the technology company's stock.

Several other brokerages have also issued reports on CSGP. JMP Securities reaffirmed a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Royal Bank of Canada lowered shares of CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, Citigroup reduced their target price on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Stock Up 1.7 %

Shares of CSGP stock traded up $1.33 during mid-day trading on Monday, hitting $78.65. 2,335,797 shares of the stock traded hands, compared to its average volume of 2,388,797. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The stock has a market cap of $32.24 billion, a P/E ratio of 175.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock's fifty day moving average is $76.20 and its two-hundred day moving average is $76.20.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its 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 net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to analysts' expectations of $695.91 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. CoStar Group's revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts predict that CoStar Group will post 0.52 EPS for the current year.

Insider Activity at CoStar Group

In related news, CEO Andrew C. Florance bought 14,731 shares of the company'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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the business's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares of the company's stock, valued at $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 owned by company insiders.

Institutional Investors Weigh In On CoStar Group

Hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in CoStar Group during the third quarter worth approximately $40,000. Telemark Asset Management LLC raised its holdings in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company's stock worth $37,720,000 after acquiring an additional 150,000 shares during the period. Swedbank AB boosted its position in shares of CoStar Group by 469.3% during the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company's stock valued at $18,712,000 after acquiring an additional 204,474 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company's stock valued at $7,812,000 after purchasing an additional 14,468 shares during the period. Finally, KBC Group NV increased its position in CoStar Group by 14.7% during the third quarter. KBC Group NV now owns 83,823 shares of the technology company's stock worth $6,324,000 after purchasing an additional 10,730 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.