CoStar Group (NASDAQ:CSGP) Stock Gets Price Target Cut from JPMorgan Chase & Co.

CoStar Group (NASDAQ:CSGP) had its price objective decreased by JPMorgan Chase & Co. from $52.00 to $44.00 in a research note released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently commented on CSGP. William Blair cut CoStar Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 29th. Wolfe Research reissued an “outperform” rating and issued a $32.00 price objective (down from $35.00) on shares of CoStar Group in a report on Wednesday, July 29th. Wells Fargo & Company set a $35.00 price objective on CoStar Group in a report on Wednesday. Robert W. Baird set a $34.00 price objective on CoStar Group and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CoStar Group in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.11.

CoStar Group Trading Up 7.2%

NASDAQ:CSGP opened at $30.17 on Wednesday. The company has a market capitalization of $12.14 billion, a P/E ratio of 29.31, a PEG ratio of 0.72 and a beta of 0.80. The company has a current ratio of 1.32, a quick ratio of 2.21 and a debt-to-equity ratio of 0.12. CoStar Group has a 12 month low of $25.89 and a 12 month high of $70.63. The firm has a fifty day simple moving average of $30.33 and a 200-day simple moving average of $36.95.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. CoStar Group had a return on equity of 4.87% and a net margin of 4.87%. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $945.82 million. During the same period in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts anticipate that CoStar Group will post 1.11 earnings per share for the current year.

Insiders Place Their Bets

In other CoStar Group news, CEO Andrew C. Florance bought 83,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $29.89 per share, for a total transaction of $2,489,837.00. Following the completion of the transaction, the chief executive officer directly owned 1,806,165 shares of the company’s stock, valued at approximately $53,986,271.85. This trade represents a 4.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $30.78, for a total transaction of $147,374.64. Following the transaction, the chief accounting officer owned 18,822 shares of the company’s stock, valued at $579,341.16. This represents a 20.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Transamerica Financial Advisors LLC acquired a new position in shares of CoStar Group in the 2nd quarter valued at about $33,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of CoStar Group by 56.8% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,380 shares of the technology company’s stock worth $38,000 after buying an additional 500 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CoStar Group in the second quarter worth about $47,000. Root Financial Partners LLC acquired a new stake in CoStar Group during the third quarter worth about $48,000. Finally, CYBER HORNET ETFs LLC grew its holdings in CoStar Group by 50.8% during the second quarter. CYBER HORNET ETFs LLC now owns 1,757 shares of the technology company’s stock worth $50,000 after acquiring an additional 592 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

More CoStar Group News

Here are the key news stories impacting CoStar Group this week:

• Positive Sentiment: Needham & Company initiated or reaffirmed a Buy rating on CoStar Group, providing support for the stock’s long-term growth outlook. CoStar Group Earns Buy Rating from Needham
• Positive Sentiment: Wells Fargo raised its price target for CSGP, signaling increased confidence in the company’s earnings potential and valuation despite recent weakness. Wells Fargo Raises CoStar Price Target
• Positive Sentiment: CoStar upgraded its U.S. office-market forecast, citing expectations for improved rent growth and lower vacancy rates. A stronger commercial real-estate recovery could support demand for CoStar’s information and analytics products. CoStar Upgrades U.S. Office Forecast
• Positive Sentiment: CoStar data indicated solid demand for four-star office space in London’s City Core, while prime-space vacancy was only 2.1%. The report reinforces the company’s value as a source of commercial property market intelligence. CoStar London Office Demand Report
• Neutral Sentiment: KBW and Bank of America each maintained Hold ratings, indicating analysts see a balanced risk-reward profile rather than a clear near-term catalyst. KBW Maintains Hold Rating Bank of America Maintains Hold Rating
• Neutral Sentiment: Homes.com highlighted high-value residential transactions across major U.S. markets. The publication raises brand visibility but has limited direct financial impact. Homes.com Luxury Home Sales Analysis
• Negative Sentiment: JPMorgan issued a pessimistic forecast for CSGP, adding to concerns about valuation, execution and the pace at which recent investments may translate into profits. JPMorgan Pessimistic CoStar Forecast
• Negative Sentiment: The stock fell below its 50-day moving average following an analyst downgrade, a potentially bearish technical signal that may encourage additional selling. CoStar Shares Cross Below 50-Day Average
• Negative Sentiment: Shares retreated sharply after earnings and news of the Vexcel acquisition. Investors appear concerned about acquisition costs, integration risk and the effect of the deal on near-term earnings, despite CoStar’s reported revenue and earnings beating consensus estimates. CoStar Retreats After Earnings and Vexcel Deal
• Negative Sentiment: October U.S. apartment rents declined 0.15% month over month to $1,749, a second consecutive monthly decrease. Softer multifamily conditions could weigh on sentiment toward CoStar’s residential-market businesses, although annual rent growth remained positive. Apartments.com October Rent Growth Report

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics, and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes, and distributes property and market data to real estate professionals, investors, lenders, and other businesses.

Its brands and services include CoStar, which offers commercial real estate data and research; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.