CoStar Group Inc. (NASDAQ: CSGP) stock jumped 0.48% on Friday to $72.87 against a previous-day closing price of $72.52. With 1.13 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.96 million shares. During the session, the Real Estate Services company that operates in wider Real Estate sector, reached to the highest price of $72.97 whereas the lowest price it dropped to was $71.34. The 52-week range on CSGP shows that it touched its highest point at $101.05 and its lowest point at $49.00 during that stretch. It currently has a 1-year price target of $79.40. Beta for the stock currently stands at 0.90.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CSGP was up-trending over the past week, with a rise of 2.75%, but this was up by 17.40% over a month. Three-month performance surged to 12.80% while six-month performance rose 2.63%. The stock lost -15.52% in the past year, while it has lost -7.79% so far this year. A look at the trailing 12-month EPS for CSGP yields 0.84 with Next year EPS estimates of 1.34. For the next quarter, that number is 0.24. This implies an EPS growth rate of 25.20% for this year and 20.74% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 23.10%.
Float and Shares Shorts:
At present, 393.34 million CSGP shares are outstanding with a float of 391.83 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.41 million, which was 0.86% higher than short shares on Jun 14, 2022. In addition to Mr. Andrew C. Florance as the firm’s Founder, Director, Pres & CEO, Mr. Scott T. Wheeler serves as its Chief Financial Officer.
Through their ownership of 98.70% of CSGP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.85% of CSGP, in contrast to 38.69% held by mutual funds. Shares owned by individuals account for 1.29%. As the largest shareholder in CSGP with 8.57% of the stake, The Vanguard Group, Inc. holds 33,946,250 shares worth 33,946,250. A second-largest stockholder of CSGP, BAMCO, Inc., holds 18,849,173 shares, controlling over 4.76% of the firm’s shares. Principal Global Investors LLC is the third largest shareholder in CSGP, holding 18,742,336 shares or 4.73% stake. With a 2.95% stake in CSGP, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 11,689,346 shares are owned by the mutual fund manager. The Principal Investors – Mid Cap Fun, which owns about 2.68% of CSGP stock, is the second-largest Mutual Fund holder. It holds 10,623,373 shares valued at 641.76 million. Akre Focus Fund holds 2.37% of the stake in CSGP, owning 9,400,530 shares worth 567.89 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CSGP since 11 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CSGP analysts setting a high price target of $92.00 and a low target of $67.00, the average target price over the next 12 months is $79.40. Based on these targets, CSGP could surge 26.25% to reach the target high and fall by -8.06% to reach the target low. Reaching the average price target will result in a growth of 8.96% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CSGP will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $1.13 being high and $1.02 being low. For CSGP, this leads to a yearly average estimate of $1.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CoStar Group Inc. surprised analysts by $0.07 when it reported $0.28 EPS against a consensus estimate of $0.21. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $0.25 and the low estimate is $0.20. The average estimate for the next quarter is thus $0.24.
Summary of Insider Activity:
Insiders traded CSGP stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 1,761 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 411,806 while 272,508 shares were sold.