CoStar Group Inc. [CSGP] fell -6.40% so far this year. What now?

CoStar Group Inc. [NASDAQ: CSGP] loss -3.48% or -2.67 points to close at $73.97 with a heavy trading volume of 4334890 shares. The company report on September 14, 2022 that CoStar Group, Inc. Announces Public Offering of Common Stock in Conjunction with Inclusion into the S&P 500 Index.


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CoStar Group, Inc. (NASDAQ: CSGP) (“CoStar”), a leading provider of online real estate marketplaces, information and analytics, announced today that in conjunction with the September 2, 2022 announcement by Standard & Poor’s (“S&P”) to include CoStar in the S&P 500 index, CoStar has commenced a public offering of $750 million of its common stock, representing approximately 9.79 million shares (based on the closing price on September 13, 2022 of $76.64). CoStar plans to market the offering primarily to S&P 500 index funds expected to have an interest in purchasing shares ahead of the date of CoStar’s inclusion in the S&P 500 index. CoStar believes the number of shares being offered represents only a limited portion of such expected index fund demand. S&P will add CoStar’s common stock to the S&P 500 index prior to the open of trading on September 19, 2022.

CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strategic acquisitions CoStar determines to pursue in the future, to finance the growth of its business and for working capital and other general corporate purposes. Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers for the offering.

It opened the trading session at $74.73, the shares rose to $75.57 and dropped to $72.81, the range by which the price of stock traded the whole day. The daily chart for CSGP points out that the company has recorded 27.89% gains over the past six months. However, it is still -50.96% lower than its most recent low trading price.

If we look at the average trading volume of 1.99M shares, CSGP reached to a volume of 4334890 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 $82.91 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.

BMO Capital Markets have made an estimate for CoStar Group Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on September 12, 2022. While these analysts kept the previous recommendation, Truist raised their target price from $110 to $70. 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 $85 to $60, while RBC Capital Mkts kept a Outperform rating on CSGP stock. On February 23, 2022, analysts decreased their price target for CSGP shares from 115 to 70.

The Average True Range (ATR) for CoStar Group Inc. is set at 2.10, with the Price to Sales ratio for CSGP stock in the period of the last 12 months amounting to 14.23. The Price to Book ratio for the last quarter was 4.94, with the Price to Cash per share for the same quarter was set at 10.01. Price to Free Cash Flow for CSGP in the course of the last twelve months was 76.31 with Quick ratio for the last quarter at 11.90.

Trading performance analysis for CSGP stock

CoStar Group Inc. [CSGP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.25. With this latest performance, CSGP shares dropped by -1.88% in over the last four-week period, additionally plugging by 27.89% over the last 6 months – not to mention a drop of -17.20% 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 53.14, with the RSI for the last a single of trading hit 48.15, and the three-weeks RSI is set at 55.63 for CoStar Group Inc. [CSGP]. The present Moving Average for the last 50 days of trading for this stock 69.45, while it was recorded at 77.21 for the last single week of trading, and 66.77 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 11.90 and a Current Ratio set at 11.90.

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 $28,317 million, or 99.20% of CSGP stock, in the hands of institutional investors. The top three institutional holders of CSGP stocks are: VANGUARD GROUP INC with ownership of 35,217,382, which is approximately 1.322% of the company’s market cap and around 0.70% of the total institutional ownership; PRINCIPAL FINANCIAL GROUP INC, holding 20,166,548 shares of the stock with an approximate value of $1.49 billion in CSGP stocks shares; and BLACKROCK INC., currently with $1.49 billion in CSGP stock with ownership of nearly -2.191% 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 298 institutional holders increased their position in CoStar Group Inc. [NASDAQ:CSGP] by around 31,488,686 shares. Additionally, 278 investors decreased positions by around 25,175,408 shares, while 90 investors held positions by with 326,155,456 shares. The mentioned changes placed institutional holdings at 382,819,550 shares, according to the latest SEC report filing. CSGP stock had 76 new institutional investments in for a total of 7,219,581 shares, while 66 institutional investors sold positions of 1,492,138 shares during the same period.

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