CoStar Group, Inc. (NASDAQ:CSGP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CoStar Group, Inc. (NASDAQ:CSGP) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $88.07.

CSGP has been the topic of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. Needham & Company LLC dropped their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th.

Institutional Investors Weigh In On CoStar Group

Institutional investors have recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in CoStar Group in the 4th quarter valued at approximately $25,000. ORG Partners LLC lifted its stake in 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 buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in CoStar Group in the 4th quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the 4th quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in 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 buying an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $79.91 on Tuesday. The stock has a market capitalization of $32.77 billion, a PE ratio of 228.31 and a beta of 0.93. 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 $74.89 and its 200 day moving average price is $75.66. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, equities research analysts forecast that CoStar Group will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has approved a stock buyback 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 often a sign that the company’s board of directors believes its shares are undervalued.

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.