Fintel reports that on July 6, 2023, Goldman Sachs maintained coverage of Costar Group (NASDAQ:CSGP) with a Buy recommendation.

Analyst Price Forecast Suggests 1.91% Upside

As of July 6, 2023, the average one-year price target for Costar Group is 90.31. The forecasts range from a low of 65.65 to a high of $110.25. The average price target represents an increase of 1.91% from its latest reported closing price of 88.62.

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The projected annual revenue for Costar Group is 2,552MM, an increase of 13.37%. The projected annual non-GAAP EPS is 1.51.

What is the Fund Sentiment?

There are 1516 funds or institutions reporting positions in Costar Group. This is an increase of 12 owner(s) or 0.80% in the last quarter. Average portfolio weight of all funds dedicated to CSGP is 0.45%, a decrease of 17.77%. Total shares owned by institutions decreased in the last three months by 1.97% to 500,614K shares. The put/call ratio of CSGP is 1.37, indicating a bearish outlook.

What are Other Shareholders Doing?

Principal Financial Group holds 19,277K shares representing 4.72% ownership of the company. In it’s prior filing, the firm reported owning 19,676K shares, representing a decrease of 2.07%. The firm decreased its portfolio allocation in CSGP by 52.99% over the last quarter.

Bamco holds 18,970K shares representing 4.64% ownership of the company. In it’s prior filing, the firm reported owning 19,110K shares, representing a decrease of 0.74%. The firm decreased its portfolio allocation in CSGP by 20.93% over the last quarter.

Janus Henderson Group holds 13,081K shares representing 3.20% ownership of the company. In it’s prior filing, the firm reported owning 12,998K shares, representing an increase of 0.63%. The firm decreased its portfolio allocation in CSGP by 72.59% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 12,584K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 12,354K shares, representing an increase of 1.83%. The firm decreased its portfolio allocation in CSGP by 16.20% over the last quarter.

Baillie Gifford holds 12,341K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 12,675K shares, representing a decrease of 2.70%. The firm decreased its portfolio allocation in CSGP by 24.89% over the last quarter.

Costar Group Background Information
(This description is provided by the company.)

CoStar Group, Inc. is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Its suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality sector. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe, Canada and Asia with a staff of over 4,600 worldwide, including the industry’s largest professional research organization.

Additional reading:

• CoStar Group First Quarter 2023 Revenue Increased 13% Year-over-Year and Net New Bookings Grew 17% to $80 Million. Apartments.com Climbs to 20% Revenue Growth
• SUBSIDIARIES OF THE REGISTRANT Entity Jurisdiction BIH France Business Immo France Comreal Info France CoStar España, S.L. Spain CoStar Europe Ltd. United Kingdom CoStar Field Research, LLC Delaware CoStar International, LLC Delaware CoStar Italy S.R
• CoStar Group 2022 Revenue Increased 12% Year-over-Year and Full Year Net New Bookings Grew 41% to a Record $305 Million
• CoStar Group Third Quarter 2022 Revenue Increased 12% and Net New Bookings Grew 62% Year-over-Year. Apartments.com Climbs to Double-Digit Revenue Growth
• CoStar Group Second Quarter 2022 Net New Bookings Grew 66% and Net Income Increased 37% Year-over-Year

This article originally appeared on Fintel

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