Bank of America Corporation restated their buy rating on shares of CoStar Group, Inc. (NASDAQ:CSGP) in a research report released on Thursday, October 5th, MarketBeat reports. They currently have a $306.00 target price on the technology company’s stock.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of CoStar Group from a buy rating to a hold rating in a research note on Tuesday, September 26th. BidaskClub cut shares of CoStar Group from a strong-buy rating to a buy rating in a research note on Sunday, July 16th. Needham & Company LLC increased their price target on shares of CoStar Group from $300.00 to $325.00 and gave the stock a buy rating in a research note on Thursday, August 17th. Stephens restated an overweight rating and issued a $275.00 target price (up previously from $260.00) on shares of CoStar Group in a research note on Monday, June 19th. Finally, SunTrust Banks, Inc. reiterated a buy rating and issued a $310.00 price target on shares of CoStar Group in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $312.57.
CoStar Group (CSGP) traded up 0.01% on Thursday, hitting $286.25. The stock had a trading volume of 11,188 shares. The company’s 50 day moving average price is $278.62 and its 200 day moving average price is $260.92. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 96.09 and a beta of 1.52. CoStar Group has a 52-week low of $179.21 and a 52-week high of $291.95.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.23. The company had revenue of $237.20 million for the quarter, compared to analyst estimates of $234.38 million. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. CoStar Group’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. Analysts expect that CoStar Group will post $4.44 EPS for the current year.
In related news, VP Matthew Linnington sold 1,767 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.98% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in CSGP. Toronto Dominion Bank lifted its position in CoStar Group by 12.3% during the second quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock valued at $106,000 after buying an additional 44 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in CoStar Group during the second quarter valued at approximately $134,000. LS Investment Advisors LLC lifted its position in CoStar Group by 3.5% during the second quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock valued at $186,000 after buying an additional 24 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in CoStar Group during the second quarter valued at approximately $188,000. Finally, Capstone Asset Management Co. acquired a new position in CoStar Group during the second quarter valued at approximately $211,000. 91.75% of the stock is currently owned by hedge funds and other institutional investors.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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