CoStar Group’s (CSGP) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CoStar Group (NASDAQ:CSGP) in a report published on Tuesday, Benzinga reports. They currently have a $107.00 target price on the technology company’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada reissued an outperform rating and set a $96.00 price objective on shares of CoStar Group in a report on Tuesday, September 10th. JMP Securities reissued a market outperform rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Robert W. Baird reduced their target price on CoStar Group from $105.00 to $100.00 and set an outperform rating on the stock in a report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered their price target 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, Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a buy rating on the stock in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CoStar Group has a consensus rating of Moderate Buy and an average target price of $96.38.

CoStar Group Stock Down 2.4 %

Shares of CoStar Group stock opened at $77.37 on Tuesday. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38. The company has a market capitalization of $31.59 billion, a PE ratio of 105.99, a P/E/G ratio of 11.55 and a beta of 0.81. 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 business has a 50-day moving average of $76.32 and a 200-day moving average of $81.96.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, beating 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 firm had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. During the same quarter last year, the firm earned $0.27 EPS. CoStar Group’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that CoStar Group will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

A number of hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in CoStar Group in the 1st quarter valued at approximately $31,000. Riverview Trust Co acquired a new position in shares of CoStar Group during the first quarter valued at $35,000. RiverPark Advisors LLC bought a new stake in shares of CoStar Group during the first quarter valued at about $37,000. TFO Wealth Partners LLC lifted its holdings in CoStar Group by 5,571.4% in the fourth quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock worth $350,000 after purchasing an additional 390 shares during the period. Finally, Industrial Alliance Investment Management Inc. bought a new position in CoStar Group in the 2nd quarter valued at about $49,000. 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.