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

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

Other analysts also recently issued research reports about the stock. 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. Needham & Company LLC reissued a buy rating and set a $107.00 price objective on shares of CoStar Group in a report on Tuesday, September 17th. Robert W. Baird cut their target price 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. JMP Securities reaffirmed a market outperform rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on CoStar Group from $109.00 to $100.00 and set an outperform rating for the company in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has a consensus rating of Moderate Buy and an average price target of $96.38.

CoStar Group Price Performance

Shares of CSGP stock opened at $76.27 on Tuesday. The firm has a fifty day simple moving average of $75.83 and a 200-day simple moving average of $80.41. The company has a market capitalization of $31.14 billion, a PE ratio of 104.48 and a beta of 0.81. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13.

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

Hedge Funds Weigh In On CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC grew its holdings in CoStar Group by 4.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after buying an additional 112 shares in the last quarter. Picton Mahoney Asset Management grew its stake in shares of CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after purchasing an additional 135 shares in the last quarter. Redmond Asset Management LLC grew its stake in shares of CoStar Group by 0.9% in the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after purchasing an additional 169 shares in the last quarter. S.E.E.D. Planning Group LLC increased its holdings in shares of CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its stake in shares of CoStar Group by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after purchasing an additional 188 shares in the last quarter. Institutional investors and hedge funds 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.