CoStar Group (NASDAQ:CSGP) Rating Reiterated by Needham & Company LLC

CoStar Group (NASDAQ:CSGP)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $107.00 target price on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 39.23% from the company’s current price.

A number of other equities analysts have also recently commented on CSGP. Bank of America dropped their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group dropped their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods dropped their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 target price on shares of CoStar Group in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $76.85 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The stock’s 50 day simple moving average is $76.21 and its two-hundred day simple moving average is $82.05. The company has a market cap of $31.38 billion, a price-to-earnings ratio of 105.27, a PEG ratio of 11.56 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business 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 company posted $0.27 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that CoStar Group will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC raised its position in shares of 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 acquiring an additional 112 shares in the last quarter. Lindbrook Capital LLC increased its position in CoStar Group by 9.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after buying an additional 113 shares in the last quarter. Picton Mahoney Asset Management increased its position in 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 grew its stake in 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 purchasing an additional 169 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in 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 valued at $2,688,000 after purchasing an additional 172 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

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.