Brokerages Set CoStar Group Inc (NASDAQ:CSGP) Price Target at $621.56

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CoStar Group Inc (NASDAQ:CSGP) has earned a consensus rating of “Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $621.56.

CSGP has been the topic of several research reports. Wells Fargo & Co boosted their price objective on shares of CoStar Group from $550.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. SunTrust Banks boosted their price objective on shares of CoStar Group to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of CoStar Group from $425.00 to $597.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. BidaskClub raised shares of CoStar Group from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, JMP Securities upped their target price on shares of CoStar Group from $525.00 to $630.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th.

In other news, CEO Andrew C. Florance sold 24,210 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $628.64, for a total transaction of $15,219,374.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Hill sold 315 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $553.23, for a total transaction of $174,267.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,109 shares of company stock worth $28,803,346. Insiders own 2.14% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSGP. Geode Capital Management LLC raised its holdings in shares of CoStar Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock valued at $113,029,000 after purchasing an additional 4,060 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CoStar Group by 13.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 86,635 shares of the technology company’s stock valued at $29,227,000 after purchasing an additional 10,145 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of CoStar Group by 16.2% during the first quarter. Janney Montgomery Scott LLC now owns 1,867 shares of the technology company’s stock valued at $871,000 after purchasing an additional 260 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of CoStar Group during the first quarter valued at approximately $500,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of CoStar Group by 2.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 12,709 shares of the technology company’s stock valued at $5,928,000 after purchasing an additional 340 shares during the last quarter. 95.71% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CSGP opened at $579.56 on Thursday. CoStar Group has a one year low of $315.85 and a one year high of $639.41. The company’s 50-day simple moving average is $609.52 and its 200 day simple moving average is $538.16. The firm has a market capitalization of $20.84 billion, a P/E ratio of 78.32, a PEG ratio of 4.21 and a beta of 1.34.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.73 by $0.22. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. The business had revenue of $343.76 million for the quarter, compared to analyst estimates of $336.71 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. CoStar Group’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, analysts anticipate that CoStar Group will post 9.02 earnings per share for the current year.

CoStar Group Company Profile

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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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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