CoStar Group, Inc. (NASDAQ:CSGP) Receives $100.08 Average Target Price from Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $100.50.

Several equities analysts have weighed in on the company. BTIG Research assumed coverage on CoStar Group in a report on Friday, January 19th. They set a “neutral” rating for the company. Jefferies Financial Group increased their price objective on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Robert W. Baird increased their price objective on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Bank of America raised their price target on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of CoStar Group during the 4th quarter worth approximately $406,934,000. Mackenzie Financial Corp grew its holdings in shares of CoStar Group by 343.8% during the 1st quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock worth $194,074,000 after acquiring an additional 2,257,140 shares during the period. Capital International Investors purchased a new position in shares of CoStar Group during the 1st quarter worth approximately $101,893,000. Renaissance Technologies LLC purchased a new position in shares of CoStar Group during the 1st quarter worth approximately $94,633,000. Finally, Wellington Management Group LLP grew its holdings in shares of CoStar Group by 51.3% during the 1st quarter. Wellington Management Group LLP now owns 3,477,341 shares of the technology company’s stock worth $231,626,000 after acquiring an additional 1,178,764 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

CSGP stock opened at $84.26 on Friday. The firm has a market cap of $34.41 billion, a PE ratio of 91.59, a P/E/G ratio of 9.68 and a beta of 0.84. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $89.10 and a 200-day moving average of $84.40. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same period in the prior year, the company earned $0.35 earnings per share. CoStar Group’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that CoStar Group will post 0.44 earnings per share for the current year.

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.