CoStar Group (NASDAQ:CSGP) Lowered to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada lowered shares of CoStar Group (NASDAQ:CSGP) from an outperform rating to a sector perform rating in a research note released on Wednesday morning, MarketBeat reports. The firm currently has $83.00 price target on the technology company’s stock, down from their prior price target of $96.00.

CSGP has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price objective on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. The Goldman Sachs Group reduced their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price target on shares of CoStar Group in a research report on Tuesday, September 17th. Robert W. Baird cut their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $94.15.

CoStar Group Stock Down 5.3 %

Shares of NASDAQ:CSGP opened at $72.82 on Wednesday. The company has a fifty day moving average of $76.46 and a 200-day moving average of $79.20. The company has a market capitalization of $29.74 billion, a PE ratio of 99.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. CoStar Group’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts predict that CoStar Group will post 0.49 EPS for the current fiscal year.

Institutional Trading of CoStar Group

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CoStar Group by 7.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,898 shares of the technology company’s stock valued at $9,369,000 after buying an additional 8,698 shares during the period. Mediolanum International Funds Ltd grew its stake in shares of CoStar Group by 14.9% in the 3rd quarter. Mediolanum International Funds Ltd now owns 161,913 shares of the technology company’s stock valued at $12,125,000 after buying an additional 20,942 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of CoStar Group by 10.2% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,085 shares of the technology company’s stock valued at $459,000 after buying an additional 562 shares during the period. International Assets Investment Management LLC bought a new position in CoStar Group in the 3rd quarter valued at about $2,481,000. Finally, Greenleaf Trust bought a new position in CoStar Group in the 3rd quarter valued at about $283,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.