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

Stephens restated their overweight rating on shares of CoStar Group (NASDAQ:CSGP) in a research note released on Wednesday, Benzinga reports. The firm currently has a $105.00 price target on the technology company’s stock.

Several other research analysts also recently commented on the company. Royal Bank of Canada raised their target price on CoStar Group from $95.00 to $109.00 and gave the stock an outperform rating in a research note on Monday, March 25th. BMO Capital Markets raised their target price on CoStar Group from $79.00 to $84.00 and gave the stock a market perform rating in a research note on Friday, April 19th. Citigroup raised their target price on CoStar Group from $90.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. BTIG Research assumed coverage on CoStar Group in a research note on Friday, January 19th. They issued a neutral rating for the company. Finally, Needham & Company LLC raised their price target on CoStar Group from $90.00 to $107.00 and gave the company a buy rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $102.46.

CoStar Group Stock Up 2.6 %

CSGP stock opened at $92.65 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 9.09. The company has a market capitalization of $37.83 billion, a price-to-earnings ratio of 126.92, a PEG ratio of 10.59 and a beta of 0.84. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The stock has a fifty day moving average of $89.77 and a 200-day moving average of $84.76.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that CoStar Group will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On CoStar Group

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after buying an additional 173 shares in the last quarter. Riverview Trust Co purchased a new position in shares of CoStar Group during the 1st quarter valued at about $35,000. Pinnacle Bancorp Inc. purchased a new position in shares of CoStar Group during the 4th quarter valued at about $37,000. Connectus Wealth LLC raised its holdings in shares of CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after buying an additional 467,534 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of CoStar Group during the 4th quarter valued at about $60,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.