CoStar Group’s (CSGP) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

CoStar Group (NASDAQ:CSGP)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $83.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 18.79% from the company’s current price.

A number of other research analysts also recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Citigroup reduced their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Stock Performance

NASDAQ CSGP opened at $69.87 on Friday. The company has a fifty day moving average price of $75.04 and a 200-day moving average price of $75.40. The firm has a market cap of $28.64 billion, a price-to-earnings ratio of 158.80 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts predict that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Large investors have recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% during 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. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group in the 3rd quarter valued at $40,000. Quarry LP purchased a new position in CoStar Group in the 2nd quarter worth $54,000. Brooklyn Investment Group purchased a new stake in CoStar Group during the third quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group during the second quarter valued at about $104,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

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.