CoStar Group’s (CSGP) Overweight Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of CoStar Group (NASDAQ:CSGP) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $103.00 price objective on the technology company’s stock.

Several other analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. Wells Fargo & Company started coverage on CoStar Group in a research report on Wednesday, February 5th. They set an “underweight” rating and a $65.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Finally, Citigroup cut their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

CoStar Group Stock Performance

Shares of CSGP stock opened at $78.35 on Tuesday. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The stock’s 50-day moving average price is $73.82 and its 200 day moving average price is $75.37. 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 stock has a market capitalization of $32.12 billion, a PE ratio of 223.84 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.13% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. As a group, equities research analysts forecast that CoStar Group will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.57% of the stock is owned by corporate insiders.

Institutional Trading of CoStar Group

Several large investors have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. acquired a new stake in CoStar Group during the fourth quarter valued at approximately $25,000. ORG Partners LLC grew its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group during the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group in the fourth quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after purchasing an additional 402 shares during the period. 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.