Market Analysts see CoStar Group Inc. [CSGP] falling to $70. Time to buy?

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CoStar Group Inc. [NASDAQ: CSGP] loss -0.25% on the last trading session, reaching $66.82 price per share at the time. The company report on March 10, 2022 that CoStar Group Hires Gene Boxer as General Counsel.


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CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, announced today the hire of Gene Boxer as General Counsel and Corporate Secretary. As the newest member of CoStar Group’s executive leadership team and strategic advisor to the CEO, Mr. Boxer will oversee the legal and compliance function of the firm.

“We believe Gene’s extensive experience with acquisitions and global management will strengthen our success as we continue to expand our brand and organization internationally,” said Andrew C. Florance, Founder and Chief Executive Officer, CoStar Group. “We look forward to further developing our growth strategy with him on board.”.

CoStar Group Inc. represents 392.54 million in outstanding shares, while the company has a total market value of $25.32 billion with the latest information. CSGP stock price has been found in the range of $65.48 to $67.26.

If compared to the average trading volume of 2.64M shares, CSGP reached a trading volume of 4319051 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CoStar Group Inc. [CSGP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CSGP shares is $79.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CSGP stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for CoStar Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 23, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $85 to $60. The new note on the price target was released on February 23, 2022, representing the official price target for CoStar Group Inc. stock. Previously, the target price had yet another drop from $115 to $70, while Needham kept a Buy rating on CSGP stock. On February 23, 2022, analysts decreased their price target for CSGP shares from 102 to 97.

The Average True Range (ATR) for CoStar Group Inc. is set at 2.94, with the Price to Sales ratio for CSGP stock in the period of the last 12 months amounting to 13.02. The Price to Book ratio for the last quarter was 4.59, with the Price to Cash per share for the same quarter was set at 10.10. Price to Free Cash Flow for CSGP in the course of the last twelve months was 62.59 with Quick ratio for the last quarter at 11.80.

Trading performance analysis for CSGP stock

CoStar Group Inc. [CSGP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.25. With this latest performance, CSGP shares gained by 6.16% in over the last four-week period, additionally sinking by -24.39% over the last 6 months – not to mention a drop of -16.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CSGP stock in for the last two-week period is set at 60.15, with the RSI for the last a single of trading hit 68.78, and the three-weeks RSI is set at 54.82 for CoStar Group Inc. [CSGP]. The present Moving Average for the last 50 days of trading for this stock 65.21, while it was recorded at 65.22 for the last single week of trading, and 80.02 for the last 200 days.

CoStar Group Inc. [CSGP]: A deeper dive into fundamental analysis

CoStar Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.80 and a Current Ratio set at 11.80.

CoStar Group Inc. [CSGP]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CSGP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CoStar Group Inc. go to 20.00%.

An analysis of insider ownership at CoStar Group Inc. [CSGP]

There are presently around $25,944 million, or 96.10% of CSGP stock, in the hands of institutional investors. The top three institutional holders of CSGP stocks are: VANGUARD GROUP INC with ownership of 34,552,931, which is approximately -0.007% of the company’s market cap and around 0.50% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 27,653,214 shares of the stock with an approximate value of $1.85 billion in CSGP stocks shares; and BLACKROCK INC., currently with $1.6 billion in CSGP stock with ownership of nearly -2.235% of the company’s market capitalization.

343 institutional holders increased their position in CoStar Group Inc. [NASDAQ:CSGP] by around 36,425,208 shares. Additionally, 275 investors decreased positions by around 29,356,501 shares, while 77 investors held positions by with 321,503,713 shares. The mentioned changes placed institutional holdings at 387,285,422 shares, according to the latest SEC report filing. CSGP stock had 112 new institutional investments in for a total of 3,658,591 shares, while 62 institutional investors sold positions of 1,162,538 shares during the same period.

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