CoStar Group (NASDAQ:CSGP) Price Target Cut to $86.00 by Analysts at Citigroup

CoStar Group (NASDAQ:CSGPFree Report) had its target price decreased by Citigroup from $88.00 to $86.00 in a report released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently commented on the company. Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Wednesday. Wells Fargo & Company reduced their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC decreased their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.00.

Check Out Our Latest Stock Report on CSGP

CoStar Group Stock Performance

CoStar Group stock opened at $78.35 on Thursday. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $32.12 billion, a P/E ratio of 223.84 and a beta of 0.87. The stock has a 50 day moving average of $73.82 and a 200-day moving average of $75.37.

CoStar Group (NASDAQ:CSGPGet Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, analysts expect that CoStar Group will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the firm’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 sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CoStar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hopwood Financial Services Inc. bought a new stake in CoStar Group during the 4th quarter valued at $25,000. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group during the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the fourth quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after buying an additional 402 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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