CoStar Group (NASDAQ:CSGP) Given “Overweight” Rating at Stephens

Stephens reaffirmed their overweight rating on shares of CoStar Group (NASDAQ:CSGP) in a research report sent to investors on Wednesday, Benzinga reports. Stephens currently has a $105.00 price target on the technology company’s stock.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird lifted their price target on shares of CoStar Group from $90.00 to $105.00 and gave the stock an outperform rating in a research note on Monday, March 18th. The Goldman Sachs Group lifted their price target on shares of CoStar Group from $96.00 to $107.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. Bank of America lifted their price target on shares of CoStar Group from $97.00 to $111.00 and gave the stock a buy rating in a research note on Monday, March 18th. BTIG Research began coverage on shares of CoStar Group in a research note on Friday, January 19th. They set a neutral rating on the stock. Finally, Citigroup lifted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $102.46.

CoStar Group Trading Up 2.6 %

Shares of CSGP stock opened at $92.65 on Wednesday. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a current ratio of 9.09, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $89.77 and its 200 day moving average is $84.78. The stock has a market capitalization of $37.83 billion, a P/E ratio of 126.92, a P/E/G ratio of 10.59 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. During the same quarter last year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Research analysts expect that CoStar Group will post 0.43 earnings per share for the current year.

Institutional Trading of CoStar Group

Several institutional investors and hedge funds have recently modified their holdings of CSGP. Principal Financial Group Inc. increased its holdings in CoStar Group by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after acquiring an additional 761,383 shares during the last quarter. Bamco Inc. NY increased its holdings in CoStar Group by 0.5% in the 3rd quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock valued at $1,476,019,000 after acquiring an additional 91,399 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in CoStar Group by 5.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after acquiring an additional 596,595 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in CoStar Group by 6.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock valued at $428,256,000 after acquiring an additional 319,960 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in CoStar Group by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock valued at $425,056,000 after acquiring an additional 218,094 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

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.