CoStar Group’s (CSGP) “Buy” Rating Reaffirmed at Needham & Company LLC

CoStar Group (NASDAQ:CSGP)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $107.00 price target on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 37.36% from the company’s previous close.

A number of other analysts also recently issued reports on CSGP. JPMorgan Chase & Co. raised their target price on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America lowered their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group dropped their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 target price on shares of CoStar Group in a research note on Tuesday, September 10th. Finally, Robert W. Baird dropped their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Trading Down 1.2 %

NASDAQ CSGP opened at $77.90 on Tuesday. The business’s fifty day moving average is $76.03 and its 200-day moving average is $82.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The stock has a market capitalization of $31.81 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 11.56 and a beta of 0.81. CoStar Group has a one year low of $67.35 and a one year high of $100.38.

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

Institutional Trading of CoStar Group

Institutional investors and hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its position in shares of CoStar Group by 4.7% in the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after purchasing an additional 112 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of CoStar Group by 9.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock worth $129,000 after buying an additional 113 shares during the last quarter. Picton Mahoney Asset Management raised its position in shares of CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after buying an additional 135 shares in the last quarter. Redmond Asset Management LLC raised its position in shares of CoStar Group by 0.9% during the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after buying an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its holdings in shares of CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after acquiring an additional 172 shares during the last quarter. Hedge funds and other 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.