CoStar Group (NASDAQ:CSGP) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group (NASDAQ:CSGP) in a research report released on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $89.00 target price on the technology company’s stock.

Other equities analysts have also issued research reports about the company. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Citigroup lowered their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Up 2.5 %

Shares of NASDAQ:CSGP opened at $76.25 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 217.86 and a beta of 0.87. The company has a 50 day moving average of $74.30 and a 200-day moving average of $75.52. CoStar Group has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, sell-side analysts forecast that CoStar Group will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of CoStar Group

Institutional investors have recently made changes to their positions in the business. Polen Capital Management LLC bought a new position in CoStar Group in the fourth quarter valued at $465,134,000. Norges Bank acquired a new position in shares of CoStar Group during the 4th quarter worth about $390,755,000. Capital International Investors grew its holdings in shares of CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock valued at $1,004,578,000 after acquiring an additional 4,345,267 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of CoStar Group by 24.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock valued at $459,314,000 after acquiring an additional 1,267,263 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in CoStar Group by 2,181.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company’s stock worth $80,847,000 after acquiring an additional 1,079,815 shares in the last quarter. 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.