CoStar Group (NASDAQ:CSGP) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of CoStar Group (NASDAQ:CSGP) from a hold rating to a buy rating in a research note released on Friday morning, BidAskClub reports.

CSGP has been the topic of several other reports. Keefe, Bruyette & Woods began coverage on shares of RealPage in a research note on Tuesday, July 9th. They set an outperform rating and a $74.00 price objective on the stock. Needham & Company LLC upped their price objective on shares of CoStar Group from $500.00 to $600.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Wells Fargo & Co upped their price objective on shares of Twitter from $33.00 to $40.00 and gave the stock a market perform rating in a research note on Wednesday, April 24th. Zacks Investment Research raised shares of Focus Financial Partners from a hold rating to a buy rating and set a $31.00 price target on the stock in a research note on Monday, June 24th. Finally, Bank of America reissued a buy rating and set a $60.00 price target (up from $55.00) on shares of Western Digital in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $559.00.

Shares of CoStar Group stock opened at $585.00 on Friday. The company has a market capitalization of $21.46 billion, a PE ratio of 79.05, a price-to-earnings-growth ratio of 3.89 and a beta of 1.34. CoStar Group has a 1-year low of $315.85 and a 1-year high of $592.34. The business’s 50-day moving average price is $548.18.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, April 23rd. The technology company reported $2.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.11. The firm had revenue of $328.00 million for the quarter, compared to analysts’ expectations of $327.45 million. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, research analysts anticipate that CoStar Group will post 9 earnings per share for the current fiscal year.

In other news, Director John W. Hill sold 315 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $553.23, for a total transaction of $174,267.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.14% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in CoStar Group in the fourth quarter valued at $207,000. Raymond James & Associates boosted its holdings in CoStar Group by 7.3% in the fourth quarter. Raymond James & Associates now owns 8,470 shares of the technology company’s stock valued at $2,857,000 after acquiring an additional 574 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in CoStar Group by 5.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,501 shares of the technology company’s stock valued at $1,181,000 after acquiring an additional 189 shares during the last quarter. Advisor Group Inc. boosted its holdings in CoStar Group by 22.0% in the fourth quarter. Advisor Group Inc. now owns 2,559 shares of the technology company’s stock valued at $863,000 after acquiring an additional 461 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in CoStar Group by 6.3% in the fourth quarter. Northern Trust Corp now owns 232,654 shares of the technology company’s stock valued at $78,484,000 after acquiring an additional 13,853 shares during the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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