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

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

Several other research analysts have also weighed in on CSGP. Needham & Company LLC reissued a buy rating and set a $107.00 price target on shares of CoStar Group in a research report on Tuesday, September 17th. Royal Bank of Canada reissued an outperform rating and set a $96.00 price target on shares of CoStar Group in a research report on Tuesday, September 10th. The Goldman Sachs Group dropped their price target on CoStar Group from $108.00 to $93.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird dropped their target price on 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, Bank of America dropped their target price on CoStar Group from $111.00 to $89.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $96.38.

CoStar Group Trading Down 1.1 %

Shares of NASDAQ CSGP opened at $74.83 on Tuesday. The company has a market cap of $30.67 billion, a price-to-earnings ratio of 141.19 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 quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $75.87 and a 200-day simple moving average of $80.45.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Swedbank AB acquired a new position in shares of CoStar Group during the 1st quarter valued at about $4,223,000. SG Americas Securities LLC increased its holdings in shares of CoStar Group by 390.8% during the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock valued at $9,641,000 after acquiring an additional 79,467 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of CoStar Group by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after acquiring an additional 17,658 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of CoStar Group by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock valued at $46,145,000 after acquiring an additional 23,987 shares during the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of CoStar Group during the 1st quarter valued at about $802,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.