CoStar Group (NASDAQ:CSGP) PT Raised to $1,000.00

CoStar Group (NASDAQ:CSGP) had its target price hoisted by Citigroup from $815.00 to $1,000.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Citigroup‘s target price would indicate a potential upside of 18.58% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 29th. Needham & Company LLC increased their price objective on shares of CoStar Group from $775.00 to $825.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Bank of America initiated coverage on shares of CoStar Group in a research note on Wednesday, July 8th. They issued a “buy” rating and a $850.00 price target on the stock. SunTrust Banks raised their price target on shares of CoStar Group from $695.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird raised their price target on shares of CoStar Group from $780.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $820.67.

Shares of CSGP stock traded up $5.80 during trading hours on Wednesday, hitting $843.30. 806 shares of the company were exchanged, compared to its average volume of 293,488. The stock has a market capitalization of $32.97 billion, a price-to-earnings ratio of 103.84 and a beta of 1.05. CoStar Group has a one year low of $500.24 and a one year high of $939.00. The business’s 50-day simple moving average is $830.10 and its two-hundred day simple moving average is $702.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 14.01 and a current ratio of 14.01.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.34. The firm had revenue of $392.00 million for the quarter, compared to analyst estimates of $390.18 million. CoStar Group had a net margin of 19.76% and a return on equity of 8.81%. CoStar Group’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. As a group, analysts anticipate that CoStar Group will post 8.3 EPS for the current fiscal year.

In related news, VP Matthew Linnington sold 2,419 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $826.32, for a total transaction of $1,998,868.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Lisa Ruggles sold 7,596 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $870.00, for a total transaction of $6,608,520.00. The disclosure for this sale can be found here. Insiders have sold 25,599 shares of company stock worth $21,825,114 in the last quarter. Company insiders own 2.14% of the company’s stock.

Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. bought a new stake in CoStar Group during the first quarter worth approximately $2,745,000. Raymond James & Associates boosted its holdings in CoStar Group by 21.1% during the second quarter. Raymond James & Associates now owns 25,576 shares of the technology company’s stock worth $18,176,000 after buying an additional 4,459 shares in the last quarter. SG Americas Securities LLC boosted its holdings in CoStar Group by 330.6% during the second quarter. SG Americas Securities LLC now owns 3,557 shares of the technology company’s stock worth $2,528,000 after buying an additional 2,731 shares in the last quarter. Putnam FL Investment Management Co. bought a new stake in CoStar Group during the second quarter worth approximately $225,000. Finally, Atom Investors LP bought a new stake in CoStar Group during the second quarter worth approximately $942,000. Hedge funds and other institutional investors own 95.06% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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The Fly

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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