B.Riley FBR analyst Scott Buck maintained a Buy rating on CoStar Group (NASDAQ: CSGP) on October 19 and set a price target of $460. The company’s shares opened today at $385.31.
Buck observed:
“Buy-rated CoStar (CSGP) is scheduled to report 3Q18 operating earnings after the market close on a conference call at 5:00 p.m. ET (dial-in: #455388). We are currently modeling revenue/adjusted a tight consensus, comprising $306M/$106M/$2.08, respectively. We are leaving the remainder of 2018 estimates, as well as 2019 estimates, unchanged at this time. While a formalized 2019 outlook likely will not be available until early next year, we believe updated 4Q18 guidance should provide an early read on trends moving into 2019, including Loopnet conversions to the CoStar Suite, which had previously been guided towards 2,000+ per quarter.”
According to TipRanks.com, Buck is ranked #4218 out of 4892 analysts.
Currently, the analyst consensus on CoStar Group is a Moderate Buy with an average price target of $468.
See today’s analyst top recommended stocks >>
Based on CoStar Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $43.84 million. In comparison, last year the company had a net profit of $34.18 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is neutral on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
CoStar Group, Inc. engages in the provision of information, analytics, and marketing services to the commercial real estate industry. Its integrated suite of online service offerings includes information about space available for lease, comparable sales information, tenant information, information about properties for sale, internet marketing services, analytical capabilities, information for client’s websites, information about industry professionals and their business relationships, data integration, and industry news. It operates through the North America and International segments. The North America segment comprises of U.S. and Canada. The International segment includes of the United Kingdom, Spain, Germany, and France. The company was founded by Andrew C. Florance and Michael R. Klein in 1987 and is headquartered in Washington, DC.
