CoStar Group (NASDAQ:CSGP) Now Covered by Stephens

Stephens initiated coverage on shares of CoStar Group (NASDAQ:CSGP) in a report published on Monday. The brokerage issued an overweight rating and a $105.00 price target on the technology company’s stock.

Several other equities research analysts also recently weighed in on CSGP. Keefe, Bruyette & Woods increased their target price on shares of CoStar Group from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. Craig Hallum started coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Bank of America started coverage on shares of CoStar Group in a research note on Friday, May 30th. They issued a “neutral” rating and a $79.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.69.

CoStar Group Trading Up 1.0%

Shares of CSGP opened at $81.94 on Monday. CoStar Group has a twelve month low of $68.26 and a twelve month high of $83.68. The company has a market cap of $34.57 billion, a P/E ratio of 234.11 and a beta of 0.87. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $77.60 and its 200-day simple moving average is $76.32.

CoStar Group announced that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of CoStar Group

Several hedge funds and other institutional investors have recently bought and sold shares of CSGP. Strs Ohio bought a new position in shares of CoStar Group in the 1st quarter worth $5,625,000. Wealth Management Associates Inc. grew its stake in CoStar Group by 9.5% in the first quarter. Wealth Management Associates Inc. now owns 3,547 shares of the technology company’s stock valued at $281,000 after purchasing an additional 308 shares during the last quarter. Twin Lakes Capital Management LLC bought a new position in CoStar Group in the first quarter worth about $54,000. MBL Wealth LLC purchased a new stake in shares of CoStar Group during the first quarter valued at about $216,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of CoStar Group by 144.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 865 shares of the technology company’s stock valued at $69,000 after buying an additional 511 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Company Profile

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.