CoStar Group’s (CSGP) Market Outperform Rating Reiterated at JMP Securities

CoStar Group (NASDAQ:CSGP)‘s stock had its “market outperform” rating reiterated by JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $90.00 price target on the technology company’s stock. JMP Securities’ price objective would suggest a potential upside of 20.03% from the company’s previous close.

Several other research analysts also recently commented on the stock. Citigroup lowered their price objective 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. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. BMO Capital Markets lowered their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

CoStar Group stock traded down $0.09 during midday trading on Monday, reaching $74.98. 71,864 shares of the company’s stock were exchanged, compared to its average volume of 2,370,871. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The stock’s 50-day simple moving average is $76.45 and its 200 day simple moving average is $75.95. The firm has a market cap of $30.74 billion, a price-to-earnings ratio of 170.41 and a beta of 0.83.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in CoStar Group by 292.0% during the third quarter. Tidal Investments LLC now owns 73,184 shares of the technology company’s stock worth $5,521,000 after buying an additional 54,515 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in CoStar Group in the third quarter valued at approximately $256,000. Coldstream Capital Management Inc. grew its holdings in CoStar Group by 6.5% during the third quarter. Coldstream Capital Management Inc. now owns 6,370 shares of the technology company’s stock valued at $481,000 after purchasing an additional 391 shares during the period. Geode Capital Management LLC increased its position in CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after buying an additional 236,407 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in shares of CoStar Group by 7,715.2% in the third quarter. Prestige Wealth Management Group LLC now owns 5,158 shares of the technology company’s stock valued at $389,000 after buying an additional 5,092 shares during the period. 96.60% of the stock is 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.