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

CoStar Group (NASDAQ:CSGP) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other research analysts have also commented on CSGP. Bank of America lowered their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. The Goldman Sachs Group cut their price objective 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 decreased their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Trading Up 0.4 %

NASDAQ CSGP traded up $0.28 on Friday, reaching $75.01. The stock had a trading volume of 1,634,678 shares, compared to its average volume of 2,258,583. 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 stock has a fifty day moving average price of $76.28 and a two-hundred day moving average price of $81.65. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The firm has a market capitalization of $30.63 billion, a price-to-earnings ratio of 102.75 and a beta of 0.81.

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

Hedge Funds Weigh In On CoStar Group

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