CoStar Group’s (CSGP) “Outperform” Rating Reaffirmed at William Blair

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reiterated by analysts at William Blair in a research note issued on Monday,RTT News reports.

A number of other research analysts have also weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, 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 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

CoStar Group Price Performance

Shares of CoStar Group stock traded down $1.04 during mid-day trading on Monday, reaching $71.21. 1,952,749 shares of the stock were exchanged, compared to its average volume of 2,090,983. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 161.84 and a beta of 0.85. The firm has a 50-day simple moving average of $75.28 and a 200 day simple moving average of $75.52. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (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 firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that CoStar Group will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group 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 sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CoStar Group

Several hedge funds have recently added to or reduced their stakes in the business. Vulcan Value Partners LLC increased its stake in shares of CoStar Group by 90.1% during 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 in the last quarter. Barclays PLC increased its position 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 acquiring an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the period. Select Equity Group L.P. purchased a new stake in CoStar Group during the second quarter worth about $60,761,000. Finally, State Street Corp boosted its position in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.