Brokerages Set CoStar Group Inc (CSGP) Target Price at $464.25

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CoStar Group Inc (NASDAQ:CSGP) has received a consensus recommendation of “Buy” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $464.25.

A number of research analysts have issued reports on CSGP shares. B. Riley upped their price target on shares of CoStar Group from $460.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Bank of America reiterated a “buy” rating and issued a $460.00 price objective (up previously from $429.00) on shares of CoStar Group in a research note on Wednesday, February 27th. BidaskClub upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. ValuEngine upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th.

CoStar Group stock traded down $8.61 during mid-day trading on Thursday, reaching $465.08. 165,329 shares of the company traded hands, compared to its average volume of 243,665. CoStar Group has a fifty-two week low of $315.85 and a fifty-two week high of $484.92. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 3.08 and a beta of 1.46.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 26th. The technology company reported $2.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.28. CoStar Group had a net margin of 20.00% and a return on equity of 9.30%. The business had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.19 million. During the same quarter in the prior year, the business posted $1.25 EPS. CoStar Group’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts anticipate that CoStar Group will post 9.03 EPS for the current fiscal year.

In related news, CFO Scott T. Wheeler sold 5,396 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $476.11, for a total transaction of $2,569,089.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Andrew C. Florance sold 55,322 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $473.38, for a total transaction of $26,188,328.36. The disclosure for this sale can be found here. Insiders sold 66,461 shares of company stock worth $31,346,029 in the last quarter. Company insiders own 2.47% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. lifted its holdings in CoStar Group by 15.5% during the fourth quarter. Cornerstone Advisors Inc. now owns 238 shares of the technology company’s stock valued at $80,000 after purchasing an additional 32 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in CoStar Group by 1.3% during the fourth quarter. Advisors Asset Management Inc. now owns 2,506 shares of the technology company’s stock valued at $845,000 after purchasing an additional 33 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in CoStar Group by 8.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 437 shares of the technology company’s stock valued at $147,000 after purchasing an additional 34 shares in the last quarter. Suntrust Banks Inc. lifted its holdings in CoStar Group by 6.8% during the fourth quarter. Suntrust Banks Inc. now owns 742 shares of the technology company’s stock valued at $251,000 after purchasing an additional 47 shares in the last quarter. Finally, ETF Managers Group LLC lifted its holdings in CoStar Group by 17.7% during the fourth quarter. ETF Managers Group LLC now owns 365 shares of the technology company’s stock valued at $123,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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