William Blair Reaffirms Outperform Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reissued by stock analysts at William Blair in a note issued to investors on Monday,RTT News reports.

Several other equities analysts have also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Finally, Stephens restated an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Trading Down 1.2 %

Shares of CSGP stock opened at $70.36 on Monday. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a market cap of $28.84 billion, a PE ratio of 159.91 and a beta of 0.85. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $75.16 and its two-hundred day moving average is $75.48.

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

Insider Activity

In related news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in CoStar Group in the third quarter worth $40,000. Quarry LP acquired a new stake in shares of CoStar Group in the second quarter valued at $54,000. Brooklyn Investment Group bought a new position in shares of CoStar Group in the third quarter valued at about $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in CoStar Group during the 2nd quarter worth about $104,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock worth $104,000 after acquiring an additional 488 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

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.