CoStar Group (NASDAQ:CSGP) Price Target Lowered to $86.00 at Citigroup

CoStar Group (NASDAQ:CSGP) had its price objective trimmed by Citigroup from $88.00 to $86.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research analysts also recently weighed in on the company. BMO Capital Markets reduced their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday. Needham & Company LLC reduced their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $88.00.

CoStar Group Trading Down 2.0 %

CoStar Group stock opened at $76.79 on Thursday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38. The stock’s 50 day simple moving average is $73.86 and its two-hundred day simple moving average is $75.42. The firm has a market cap of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data 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 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Analysts anticipate that CoStar Group will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has approved a stock repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group in the 4th quarter valued at approximately $25,000. ORG Partners LLC grew its stake in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the 4th quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the 4th quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of CoStar Group by 414.4% in 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 last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.