CoStar Group, Inc. (NASDAQ:CSGP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $96.08.

Several research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. JMP Securities dropped their price objective on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating for the company in a report on Wednesday, July 24th. Stephens reissued an “overweight” rating and set a $105.00 price objective on shares of CoStar Group in a report on Wednesday, April 24th. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th.

CoStar Group Trading Up 0.9 %

Shares of CoStar Group stock opened at $78.51 on Monday. The company has a market capitalization of $32.17 billion, a P/E ratio of 107.55, a P/E/G ratio of 11.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company has a fifty day moving average of $76.81 and a 200 day moving average of $84.00. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38.

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

Hedge Funds Weigh In On CoStar Group

A number of institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC increased its position in shares of CoStar Group by 4.7% during the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after acquiring an additional 112 shares during the period. Lindbrook Capital LLC increased its position in shares of 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 period. Checchi Capital Advisers LLC increased its holdings 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 buying an additional 121 shares during the period. Axxcess Wealth Management LLC increased its holdings in CoStar Group by 4.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,775 shares of the technology company’s stock valued at $243,000 after buying an additional 123 shares during the period. Finally, Wealth Alliance increased its holdings in CoStar Group by 3.0% during the fourth quarter. Wealth Alliance now owns 4,539 shares of the technology company’s stock valued at $397,000 after buying an additional 132 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.