Royal Bank of Canada Reaffirms “Outperform” Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research report issued on Tuesday, Benzinga reports. They presently have a $96.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 23.33% from the company’s previous close.

Other analysts have also recently issued reports about the company. Robert W. Baird reduced their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $107.00 price target on shares of CoStar Group in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods cut their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday. Finally, The Goldman Sachs Group cut their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Trading Down 2.1 %

NASDAQ:CSGP traded down $1.69 during trading hours on Tuesday, reaching $77.84. 391,490 shares of the stock were exchanged, compared to its average volume of 2,242,316. 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 company has a market capitalization of $31.90 billion, a price-to-earnings ratio of 106.63, a PEG ratio of 11.48 and a beta of 0.81. The business has a 50-day moving average of $75.51 and a two-hundred day moving average of $82.41. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. On average, equities analysts predict that CoStar Group will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CSGP. Concurrent Investment Advisors LLC grew its holdings in CoStar Group by 4.7% during 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 during the last quarter. Lindbrook Capital LLC raised 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 purchasing an additional 113 shares during the period. Checchi Capital Advisers LLC lifted its holdings in CoStar Group by 3.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock valued at $320,000 after purchasing an additional 121 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings 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 acquiring an additional 135 shares during the period. Finally, Redmond Asset Management LLC increased its holdings 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 during the period. Institutional investors and hedge funds 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.