CoStar Group’s (CSGP) Overweight Rating Reaffirmed at Stephens

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating restated by analysts at Stephens in a research note issued on Wednesday, Benzinga reports. They presently have a $105.00 target price on the technology company’s stock. Stephens’ price target suggests a potential upside of 16.23% from the stock’s previous close.

Several other research firms have also commented on CSGP. Robert W. Baird upped their target price on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Needham & Company LLC increased their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets increased their price objective on CoStar Group from $79.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Bank of America increased their price objective on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Trading Down 1.8 %

Shares of NASDAQ CSGP opened at $90.34 on Wednesday. The stock’s 50 day moving average price is $89.55 and its two-hundred day moving average price is $84.68. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The stock has a market capitalization of $36.90 billion, a P/E ratio of 123.75, a PEG ratio of 9.73 and a beta of 0.84. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 4.97% and a net margin of 11.64%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. On average, analysts anticipate that CoStar Group will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors and hedge funds have recently modified their holdings of CSGP. CWM LLC lifted its position in shares of CoStar Group by 8.7% during the 3rd quarter. CWM LLC now owns 4,735 shares of the technology company’s stock valued at $364,000 after acquiring an additional 377 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of CoStar Group by 13.7% in the third quarter. DAVENPORT & Co LLC now owns 69,520 shares of the technology company’s stock valued at $5,345,000 after purchasing an additional 8,365 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of CoStar Group by 80.4% in the third quarter. Exchange Traded Concepts LLC now owns 13,453 shares of the technology company’s stock valued at $1,034,000 after purchasing an additional 5,997 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of CoStar Group in the third quarter valued at $1,019,000. Finally, Czech National Bank lifted its holdings in shares of CoStar Group by 47.6% in the third quarter. Czech National Bank now owns 71,369 shares of the technology company’s stock valued at $5,488,000 after purchasing an additional 23,007 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

About CoStar Group

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.