CoStar Group (NASDAQ:CSGP) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of CoStar Group (NASDAQ:CSGP – Free Report) from a sell rating to a hold rating in a report issued on Tuesday.

CSGP has been the topic of a number of other reports. Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada reaffirmed an outperform rating and issued a $96.00 target price on shares of CoStar Group in a research report on Tuesday, September 10th. Robert W. Baird lowered their price target on CoStar Group from $105.00 to $100.00 and set an outperform rating for the company in a report on Wednesday, July 24th. JMP Securities reiterated a market outperform rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Finally, The Goldman Sachs Group lowered their price target on CoStar Group from $108.00 to $93.00 and set a buy rating for the company in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $96.38.

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CoStar Group Stock Performance

CoStar Group stock opened at $74.83 on Tuesday. The stock’s 50 day moving average price is $75.87 and its 200 day moving average price is $80.45. The firm has a market capitalization of $30.67 billion, a PE ratio of 141.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group has a one year low of $67.35 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same period in the prior year, the company posted $0.27 EPS. CoStar Group’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts expect that CoStar Group will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of CoStar Group in the first quarter worth $4,223,000. SG Americas Securities LLC grew its stake in shares of CoStar Group by 390.8% in the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after purchasing an additional 79,467 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of CoStar Group by 1.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after purchasing an additional 17,658 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of CoStar Group by 5.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock worth $46,145,000 after purchasing an additional 23,987 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in shares of CoStar Group in the first quarter worth $802,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Company Profile

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CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.

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