CoStar Group (NASDAQ:CSGP) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of CoStar Group (NASDAQ:CSGP) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $107.00 target price on the technology company’s stock.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group lifted their price objective on CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a research report on Friday, April 12th. JMP Securities dropped their price target on shares of CoStar Group from $110.00 to $90.00 and set a market outperform rating for the company in a research report on Wednesday. Bank of America cut their price target on CoStar Group from $111.00 to $89.00 and set a buy rating for the company in a research note on Monday, July 22nd. BMO Capital Markets lifted their target price on CoStar Group from $84.00 to $88.00 and gave the company a market perform rating in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price target on CoStar Group from $109.00 to $100.00 and set an outperform rating for the company in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $96.08.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $78.51 on Wednesday. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The firm has a market capitalization of $32.06 billion, a price-to-earnings ratio of 107.55, a price-to-earnings-growth ratio of 11.48 and a beta of 0.81. The company has a current ratio of 9.27, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $76.81 and a 200 day moving average of $83.99.

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, beating analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that CoStar Group will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On CoStar Group

Several institutional investors have recently bought and sold shares of CSGP. Concurrent Investment Advisors LLC raised its position in shares of CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after buying an additional 112 shares in the last quarter. Lindbrook Capital LLC increased its stake in CoStar Group by 9.2% during the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock worth $129,000 after acquiring an additional 113 shares during the last quarter. Checchi Capital Advisers LLC raised its position in CoStar Group by 3.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock valued at $320,000 after purchasing an additional 121 shares during the period. Axxcess Wealth Management LLC boosted its holdings in shares of CoStar Group by 4.6% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,775 shares of the technology company’s stock worth $243,000 after purchasing an additional 123 shares during the period. Finally, Wealth Alliance boosted its holdings in shares of CoStar Group by 3.0% in the 4th quarter. Wealth Alliance now owns 4,539 shares of the technology company’s stock worth $397,000 after purchasing an additional 132 shares during the period. Institutional investors own 96.60% of the company’s stock.

About CoStar Group

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.