JP Morgan lifts CoStar Group Inc. [CSGP] price estimate. Who else is bullish?

CoStar Group Inc. [NASDAQ: CSGP] loss -1.60% or -1.26 points to close at $77.37 with a heavy trading volume of 3328509 shares. The company report on January 25, 2023 that CoStar Group to Report Financial Results for Fourth Quarter and Full Year 2022 on February 21, 2023.

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CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the fourth quarter and full year 2022 following the market close on Tuesday, February 21, 2023. Management will conduct a conference call to discuss the fourth quarter and full year results, as well as the Company’s outlook at 5:00 PM EST that same day.

A live audio webcast of the conference will be available in listen-only mode through the Investors section of the CoStar Group website: A replay of the webcast audio will also be available in the Investors section of our website for a period of time following the call.

It opened the trading session at $77.47, the shares rose to $78.38 and dropped to $76.36, the range by which the price of stock traded the whole day. The daily chart for CSGP points out that the company has recorded 27.46% gains over the past six months. However, it is still -57.9% lower than its most recent low trading price.

If we look at the average trading volume of 2.49M shares, CSGP reached to a volume of 3328509 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 $91.62 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 1.80. 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.

JP Morgan have made an estimate for CoStar Group Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 16, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on November 18, 2022, representing the official price target for CoStar Group Inc. stock. Previously, the target price had yet another raise from $67 to $76, while Jefferies kept a Hold rating on CSGP stock.

The Average True Range (ATR) for CoStar Group Inc. is set at 1.97, with the Price to Sales ratio for CSGP stock in the period of the last 12 months amounting to 14.51. The Price to Book ratio for the last quarter was 4.55, with the Price to Cash per share for the same quarter was set at 12.03. Price to Free Cash Flow for CSGP in the course of the last twelve months was 83.23 with Quick ratio for the last quarter at 15.40.

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 -0.91. With this latest performance, CSGP shares gained by 0.16% in over the last four-week period, additionally plugging by 27.46% over the last 6 months – not to mention a rise of 11.08% 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 46.16, with the RSI for the last a single of trading hit 44.28, and the three-weeks RSI is set at 47.40 for CoStar Group Inc. [CSGP]. The present Moving Average for the last 50 days of trading for this stock 79.39, while it was recorded at 77.98 for the last single week of trading, and 70.21 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 15.40 and a Current Ratio set at 15.40.

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 $30,993 million, in the hands of institutional investors. The top three institutional holders of CSGP stocks are: VANGUARD GROUP INC with ownership of 42,997,622, which is approximately 22.092% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 28,633,861 shares of the stock with an approximate value of $2.22 billion in CSGP stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $1.59 billion in CSGP stock with ownership of nearly 2.181% of the company’s market capitalization.

Positions in CoStar Group Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 346 institutional holders increased their position in CoStar Group Inc. [NASDAQ:CSGP] by around 58,648,190 shares. Additionally, 271 investors decreased positions by around 35,207,643 shares, while 81 investors held positions by with 306,720,567 shares. The mentioned changes placed institutional holdings at 400,576,400 shares, according to the latest SEC report filing. CSGP stock had 101 new institutional investments in for a total of 13,034,735 shares, while 60 institutional investors sold positions of 9,920,513 shares during the same period.


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