CoStar Group (NASDAQ:CSGP) Raised to “Hold” at StockNews.com

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

CSGP has been the subject of a number of other research reports. Robert W. Baird reduced their price objective on shares of CoStar Group from $105.00 to $100.00 and set an outperform rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $109.00 to $100.00 and set an outperform rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group lowered their price target on CoStar Group from $108.00 to $93.00 and set a buy rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on CoStar Group from $102.00 to $108.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Finally, Needham & Company LLC reissued a buy rating and set a $107.00 target price on shares of CoStar Group in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CoStar Group has a consensus rating of Moderate Buy and an average price target of $96.38.

CoStar Group Price Performance

NASDAQ:CSGP opened at $75.01 on Friday. The firm has a market capitalization of $30.74 billion, a price-to-earnings ratio of 102.75 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 simple moving average of $76.29 and a 200-day simple moving average of $81.48. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results 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 firm had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. During the same period last year, the company earned $0.27 EPS. CoStar Group’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that CoStar Group will post 0.49 EPS for the current year.

Hedge Funds Weigh In On CoStar Group

Institutional investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. raised its holdings in shares of CoStar Group by 192.6% during the 2nd quarter. Centaurus Financial Inc. now owns 6,800 shares of the technology company’s stock worth $504,000 after acquiring an additional 4,476 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in CoStar Group in the 2nd quarter valued at about $104,000. Sanctuary Advisors LLC purchased a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $2,096,000. Fiera Capital Corp increased its holdings in shares of CoStar Group by 29.1% during the 2nd quarter. Fiera Capital Corp now owns 80,963 shares of the technology company’s stock worth $6,003,000 after buying an additional 18,241 shares during the last quarter. Finally, Kampmann Melissa S. raised its position in shares of CoStar Group by 10.7% during the 2nd quarter. Kampmann Melissa S. now owns 23,065 shares of the technology company’s stock valued at $1,710,000 after buying an additional 2,230 shares during the period. Hedge funds and other 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.