CoStar Group (NASDAQ:CSGP) Coverage Initiated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of CoStar Group (NASDAQ:CSGP) in a research report sent to investors on Tuesday, Briefing.com Automated Import reports. The firm issued an outperform rating and a $650.00 price objective on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Needham & Company LLC raised their price objective on shares of CoStar Group from $500.00 to $600.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Focus Financial Partners from a hold rating to a buy rating and set a $31.00 price objective for the company in a research report on Monday, June 24th. Citigroup downgraded shares of International Container Terminal Services from a buy rating to a neutral rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Co raised their price objective on shares of Twitter from $33.00 to $40.00 and gave the stock a market perform rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $559.00.

Shares of NASDAQ:CSGP opened at $587.14 on Tuesday. CoStar Group has a 52-week low of $315.85 and a 52-week high of $592.34. The firm has a market cap of $21.45 billion, a P/E ratio of 79.34, a P/E/G ratio of 3.90 and a beta of 1.34. The firm has a 50-day moving average price of $543.88.



CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.11. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The business had revenue of $328.00 million during the quarter, compared to the consensus estimate of $327.45 million. During the same period last year, the business posted $1.44 EPS. CoStar Group’s revenue was up 19.7% on a year-over-year basis. Research analysts expect that CoStar Group will post 9 EPS for the current year.

In other news, Director John W. Hill sold 315 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $553.23, for a total transaction of $174,267.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.14% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of CoStar Group by 0.8% during the first quarter. BlackRock Inc. now owns 3,086,193 shares of the technology company’s stock worth $1,439,461,000 after purchasing an additional 24,945 shares during the period. JPMorgan Chase & Co. increased its stake in CoStar Group by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 581,742 shares of the technology company’s stock valued at $271,335,000 after acquiring an additional 22,555 shares during the last quarter. American Century Companies Inc. increased its stake in CoStar Group by 3.8% in the first quarter. American Century Companies Inc. now owns 499,624 shares of the technology company’s stock valued at $233,035,000 after acquiring an additional 18,206 shares during the last quarter. Geode Capital Management LLC increased its stake in CoStar Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock valued at $113,029,000 after acquiring an additional 4,060 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in CoStar Group by 1.6% in the first quarter. Baillie Gifford & Co. now owns 324,889 shares of the technology company’s stock valued at $151,535,000 after acquiring an additional 5,010 shares during the last quarter. 96.04% of the stock is currently owned by institutional investors.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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