BidaskClub Upgrades CoStar Group (NASDAQ:CSGP) to Strong-Buy

CoStar Group (NASDAQ:CSGP) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday, BidAskClub reports.

Several other research firms have also weighed in on CSGP. B. Riley lifted their target price on shares of CoStar Group from $730.00 to $810.00 in a report on Wednesday. JPMorgan Chase & Co. raised CoStar Group from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $660.00 to $900.00 in a report on Wednesday. Robert W. Baird began coverage on shares of CoStar Group in a research report on Wednesday, June 17th. They set an “outperform” rating and a $755.00 price objective for the company. Needham & Company LLC increased their price objective on shares of CoStar Group from $775.00 to $825.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, SunTrust Banks increased their price target on CoStar Group from $695.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $791.08.

Shares of CSGP stock opened at $849.76 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.75 and a current ratio of 14.01. The stock has a market capitalization of $33.45 billion, a P/E ratio of 92.67 and a beta of 1.10. The company has a 50 day moving average price of $708.87 and a 200 day moving average price of $661.58. CoStar Group has a fifty-two week low of $500.24 and a fifty-two week high of $939.00.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.34. CoStar Group had a return on equity of 8.81% and a net margin of 19.76%. The business had revenue of $392.00 million during the quarter, compared to analysts’ expectations of $390.18 million. During the same period in the prior year, the firm posted $2.23 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, research analysts forecast that CoStar Group will post 8.26 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CSGP. Flagship Harbor Advisors LLC raised its stake in shares of CoStar Group by 164.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 37 shares of the technology company’s stock worth $26,000 after purchasing an additional 23 shares in the last quarter. Creative Financial Designs Inc. ADV bought a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $39,000. Balentine LLC acquired a new position in CoStar Group in the first quarter worth approximately $42,000. Rockefeller Capital Management L.P. raised its position in CoStar Group by 100.0% during the first quarter. Rockefeller Capital Management L.P. now owns 74 shares of the technology company’s stock valued at $43,000 after acquiring an additional 37 shares in the last quarter. Finally, Citizens Financial Group Inc RI lifted its stake in CoStar Group by 405.6% in the first quarter. Citizens Financial Group Inc RI now owns 91 shares of the technology company’s stock valued at $53,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.

CoStar Group Company Profile

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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