CoStar Group Inc (CSGP) is Resumed by Needham to Buy, Price Target at $240

CoStar Group Inc (CSGP) was Resumed by Needham to “Buy” and the brokerage firm has set the Price Target at $240. Needham advised their investors in a research report released on Aug 22, 2016.

On the company’s financial health, CoStar Group Inc reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.83. The company had revenue of $207.00 million for the quarter, compared to analysts expectations of $205.58 million. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

CoStar Group Inc opened for trading at $206.58 and hit $209.57 on the upside on Friday, eventually ending the session at $208.23, with a gain of 0.25% or 0.51 points. The heightened volatility saw the trading volume jump to 78,151 shares. Company has a market cap of $6,789 M.

In a different news, on Aug 2, 2016, Michael J Glosserman (director) sold 5,000 shares at $206.33 per share price. According to the SEC, on Nov 16, 2015, Francis Carchedi (Executive VP, Operations) sold 3,414 shares at $201.65 per share price. On Nov 12, 2015, Andrew C Florance (President and CEO) sold 17,612 shares at $205.10 per share price, according to the Form-4 filing with the securities and exchange commission.

CoStar Group Inc. (CoStar) is a provider of information analytics and online marketplaces to the commercial real estate industry. The Company has five flagship brands: CoStar LoopNet BizBuySell and LandsofAmerica. The Company has operations in the United States Canada the United Kingdom and France. The Company delivers its commercial real estate content to the United States customers primarily through an integrated suite of online service offerings that includes information about space available for lease comparable sales information information about properties for sale tenant information Internet marketing services analytical capabilities information for clients’ Websites information about industry professionals and their business relationships data integration and industry news. It also operates complementary online marketplaces for commercial real estate listings and apartment rentals.

CoStar Group Inc

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