Stephens Reaffirms “Overweight” Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating reiterated by Stephens in a report released on Wednesday, Benzinga reports. They currently have a $105.00 price objective on the technology company’s stock. Stephens’ price objective suggests a potential upside of 16.60% from the company’s current price.

A number of other brokerages have also issued reports on CSGP. Jefferies Financial Group lifted their price target on CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. BMO Capital Markets lifted their target price on CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. Citigroup boosted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Robert W. Baird upped their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada upped their price target on shares of CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $102.15.

CoStar Group Stock Up 6.4 %

NASDAQ:CSGP traded up $5.43 on Wednesday, reaching $90.05. The stock had a trading volume of 2,428,442 shares, compared to its average volume of 2,162,041. The stock has a market cap of $36.78 billion, a P/E ratio of 98.21, a price-to-earnings-growth ratio of 9.81 and a beta of 0.84. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $89.21 and a 200 day moving average of $84.59.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The firm had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same quarter in the previous year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts predict that CoStar Group will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On CoStar Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in shares of CoStar Group by 37.1% during the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after buying an additional 200,183 shares during the period. Simplicity Solutions LLC increased its stake in shares of CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after purchasing an additional 431 shares in the last quarter. Harbor Advisors LLC increased its position in shares of CoStar Group by 69.6% during the fourth quarter. Harbor Advisors LLC now owns 17,060 shares of the technology company’s stock worth $1,491,000 after acquiring an additional 7,000 shares during the period. Wellington Management Group LLP boosted its holdings in CoStar Group by 22.7% in the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after purchasing an additional 662,592 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in CoStar Group by 16.8% in the 3rd quarter. LPL Financial LLC now owns 86,580 shares of the technology company’s stock valued at $6,657,000 after acquiring an additional 12,422 shares during the last quarter. Institutional investors 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.