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

StockNews.com upgraded shares of CoStar Group (NASDAQ:CSGP) from a sell rating to a hold rating in a research report released on Friday.

A number of other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods dropped 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 note on Wednesday, July 17th. Royal Bank of Canada reaffirmed an outperform rating and set a $96.00 price objective on shares of CoStar Group in a report on Tuesday, September 10th. JMP Securities reiterated a market outperform rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Robert W. Baird decreased their target price on shares of CoStar Group from $105.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of CoStar Group from $102.00 to $108.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, CoStar Group has a consensus rating of Moderate Buy and a consensus target price of $96.38.

CoStar Group Stock Performance

Shares of CSGP opened at $75.44 on Friday. The company’s 50 day simple moving average is $76.29 and its 200-day simple moving average is $81.39. The firm has a market cap of $30.81 billion, a PE ratio of 103.34 and a beta of 0.81. 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 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. During the same period last year, the firm posted $0.27 EPS. CoStar Group’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts predict that CoStar Group will post 0.49 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in shares of CoStar Group during the 1st quarter valued at $35,000. RiverPark Advisors LLC acquired a new stake in shares of CoStar Group during the 1st quarter valued at $37,000. Connectus Wealth LLC boosted its stake in shares of CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after acquiring an additional 467,534 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group in the 2nd quarter worth $49,000. 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.