New Buy Rating for CoStar Group (CSGP), the Technology Giant

In a report released today, Mayank Tandon from Needham reiterated a Buy rating on CoStar Group (CSGP), with a price target of $675.00. The company’s shares closed last Monday at $597.15, close to its 52-week high of $639.41.

According to TipRanks.com, Tandon is a 5-star analyst with an average return of 16.0% and a 61.7% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Exlservice Holdings, and Q2 Holdings Inc.

CoStar Group has an analyst consensus of Strong Buy, with a price target consensus of $648.17, representing a 9.8% upside. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock.

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The company has a one-year high of $639.41 and a one-year low of $315.85. Currently, CoStar Group has an average volume of 250.6K.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CSGP in relation to earlier this year.

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. is engaged 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.