CoStar Group Inc. [CSGP] Stock trading around $69.68 per share: What’s Next?


CoStar Group Inc. [NASDAQ: CSGP] gained 14.79% or 8.98 points to close at $69.68 with a heavy trading volume of 5597733 shares. The company report on July 26, 2022 that CoStar Group Second Quarter 2022 Net New Bookings Grew 66% and Net Income Increased 37% Year-over-Year.

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CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended June 30, 2022, was $536 million, an increase of 12% over revenue of $480 million for the second quarter of 2021.

Net income for the second quarter of 2022 was $83 million, an increase of 37% compared to net income of $61 million for the second quarter of 2021. EBITDA for the second quarter of 2022 was $140 million, an increase of 5% compared to EBITDA of $133 million for the second quarter of 2021.

It opened the trading session at $64.00, the shares rose to $69.685 and dropped to $63.82, the range by which the price of stock traded the whole day. The daily chart for CSGP points out that the company has recorded 3.94% gains over the past six months. However, it is still -42.2% lower than its most recent low trading price.

If we look at the average trading volume of 1.93M shares, CSGP reached to a volume of 5597733 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 $76.70 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 2.26, with the Price to Sales ratio for CSGP stock in the period of the last 12 months amounting to 13.96. The Price to Book ratio for the last quarter was 4.72, with the Price to Cash per share for the same quarter was set at 9.79. Price to Free Cash Flow for CSGP in the course of the last twelve months was 62.74 with Quick ratio for the last quarter at 11.10.

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 11.85. With this latest performance, CSGP shares gained by 12.97% in over the last four-week period, additionally plugging by 3.94% over the last 6 months – not to mention a drop of -21.73% 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 71.21, with the RSI for the last a single of trading hit 77.37, and the three-weeks RSI is set at 66.13 for CoStar Group Inc. [CSGP]. The present Moving Average for the last 50 days of trading for this stock 59.88, while it was recorded at 63.27 for the last single week of trading, and 69.14 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and CoStar Group Inc. [CSGP] shares currently have an operating margin of +22.24 and a Gross Margin at +77.78. CoStar Group Inc.’s Net Margin is presently recorded at +15.05.

Return on Equity for this stock inclined to 5.28, with Return on Assets sitting at 4.13.

CoStar Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.10 and a Current Ratio set at 11.10.

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 $26,309 million, or 98.90% of CSGP stock, in the hands of institutional investors. The top three institutional holders of CSGP stocks are: VANGUARD GROUP INC with ownership of 34,757,886, which is approximately 0.593% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 20,615,252 shares of the stock with an approximate value of $1.44 billion in CSGP stocks shares; and BAMCO INC /NY/, currently with $1.31 billion in CSGP stock with ownership of nearly 1.894% of the company’s market capitalization.

Positions in CoStar Group Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 313 institutional holders increased their position in CoStar Group Inc. [NASDAQ:CSGP] by around 42,348,515 shares. Additionally, 296 investors decreased positions by around 46,524,305 shares, while 79 investors held positions by with 288,699,635 shares. The mentioned changes placed institutional holdings at 377,572,455 shares, according to the latest SEC report filing. CSGP stock had 75 new institutional investments in for a total of 7,374,999 shares, while 91 institutional investors sold positions of 9,586,917 shares during the same period.