StockNews.com Upgrades CoStar Group (NASDAQ:CSGP) to Hold

by · The Markets Daily

CoStar Group (NASDAQ:CSGP – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

A number of other research firms also recently commented on CSGP. JPMorgan Chase & Co. boosted their target price on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird lowered their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.38.

Read Our Latest Stock Report on CoStar Group

CoStar Group Trading Up 0.4 %

CSGP stock opened at $75.01 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38. The business has a 50 day simple moving average of $76.29 and a two-hundred day simple moving average of $81.57. The company has a market capitalization of $30.74 billion, a price-to-earnings ratio of 102.75 and a beta of 0.81.

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

Institutional Investors Weigh In On CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Swedbank AB bought a new position in CoStar Group in the 1st quarter valued at $4,223,000. SG Americas Securities LLC lifted its holdings in CoStar Group by 390.8% during the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock valued at $9,641,000 after buying an additional 79,467 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in CoStar Group by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after buying an additional 17,658 shares during the period. State Board of Administration of Florida Retirement System grew its stake in CoStar Group by 5.3% in the 1st 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 acquiring an additional 23,987 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of CoStar Group during the first quarter worth approximately $802,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

About CoStar Group

(Get Free Report)

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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