CoStar Group (NASDAQ:CSGP) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CoStar Group (NASDAQ:CSGP) in a research report released on Thursday morning, AnalystRatings.com reports. Needham & Company LLC currently has a $825.00 price target on the technology company’s stock.

A number of other analysts have also issued reports on CSGP. Citigroup lifted their price objective on shares of CoStar Group from $680.00 to $750.00 and gave the company a buy rating in a research note on Wednesday, January 15th. ValuEngine upgraded shares of CoStar Group from a sell rating to a hold rating in a research note on Friday, November 15th. B. Riley lifted their price objective on shares of CoStar Group from $610.00 to $640.00 and gave the company a buy rating in a research note on Monday, October 21st. Stephens lifted their price target on shares of CoStar Group from $616.00 to $713.00 and gave the stock an overweight rating in a research note on Thursday, January 2nd. Finally, BidaskClub upgraded shares of CoStar Group from a buy rating to a strong-buy rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. CoStar Group currently has an average rating of Buy and a consensus price target of $679.33.

Shares of CSGP traded up $1.57 during mid-day trading on Thursday, reaching $731.37. 213,907 shares of the stock traded hands, compared to its average volume of 243,879. The firm has a market cap of $24.64 billion, a price-to-earnings ratio of 86.04, a P/E/G ratio of 5.05 and a beta of 1.36. The stock has a fifty day simple moving average of $646.66 and a 200 day simple moving average of $606.57. CoStar Group has a 12-month low of $400.00 and a 12-month high of $746.70.

In related news, Director Laura Cox Kaplan sold 576 shares of CoStar Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $591.60, for a total value of $340,761.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.14% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of CSGP. BlackRock Inc. boosted its holdings in CoStar Group by 14.4% in the second quarter. BlackRock Inc. now owns 3,531,271 shares of the technology company’s stock worth $1,956,536,000 after purchasing an additional 445,078 shares during the period. Franklin Resources Inc. boosted its holdings in CoStar Group by 5.0% in the fourth quarter. Franklin Resources Inc. now owns 872,822 shares of the technology company’s stock worth $522,191,000 after purchasing an additional 41,537 shares during the period. State Street Corp boosted its holdings in CoStar Group by 2.2% in the fourth quarter. State Street Corp now owns 774,918 shares of the technology company’s stock worth $463,633,000 after purchasing an additional 16,568 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in CoStar Group by 36.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 426,669 shares of the technology company’s stock worth $255,276,000 after purchasing an additional 113,280 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in CoStar Group by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 410,532 shares of the technology company’s stock worth $245,622,000 after purchasing an additional 16,818 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

About CoStar Group

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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