CoStar Group Inc (CSGP) Receives Consensus Recommendation of “Hold” from Analysts

CoStar Group Inc (NASDAQ:CSGP) has received an average rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $457.75.

Several brokerages recently commented on CSGP. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $401.00 price target for the company in a research report on Friday, October 26th. BidaskClub upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, ValuEngine downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st.

In other CoStar Group news, Director Christopher J. Nassetta sold 571 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $349.67, for a total value of $199,661.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Hill sold 1,042 shares of the stock in a transaction that occurred on Wednesday, December 26th. The stock was sold at an average price of $330.88, for a total transaction of $344,776.96. The disclosure for this sale can be found here. 2.47% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. lifted its position in CoStar Group by 20.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 206 shares of the technology company’s stock worth $87,000 after buying an additional 35 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of CoStar Group during the 3rd quarter worth $100,000. Fort L.P. acquired a new position in shares of CoStar Group during the 2nd quarter worth $122,000. TLP Group LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth $140,000. Finally, Paradigm Asset Management Co. LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth $147,000. Institutional investors own 95.52% of the company’s stock.

Shares of NASDAQ:CSGP traded down $0.35 during mid-day trading on Friday, hitting $359.27. The stock had a trading volume of 136,489 shares, compared to its average volume of 183,050. The company has a market cap of $12.87 billion, a PE ratio of 92.83, a price-to-earnings-growth ratio of 2.41 and a beta of 1.45. CoStar Group has a 12-month low of $315.85 and a 12-month high of $448.35.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 23rd. The technology company reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.08. The business had revenue of $305.53 million during the quarter, compared to the consensus estimate of $305.99 million. CoStar Group had a net margin of 17.61% and a return on equity of 7.63%. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. As a group, sell-side analysts predict that CoStar Group will post 7.13 EPS for the current year.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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