CoStar Group (NASDAQ:CSGP) Rating Reiterated by JMP Securities

CoStar Group (NASDAQ:CSGP)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a note issued to investors on Friday, Benzinga reports. They currently have a $90.00 price target on the technology company’s stock. JMP Securities’ price target suggests a potential upside of 15.85% from the company’s previous close.

CSGP has been the topic of several other reports. Bank of America cut their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Robert W. Baird cut 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 report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Stock Performance

Shares of CoStar Group stock traded up $0.33 during trading on Friday, hitting $77.69. 367,487 shares of the stock were exchanged, compared to its average volume of 2,246,849. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $75.33 and a 200-day moving average price of $82.46. The stock has a market capitalization of $31.84 billion, a price-to-earnings ratio of 106.45, a price-to-earnings-growth ratio of 11.46 and a beta of 0.81. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating 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 company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. During the same period last year, the firm posted $0.27 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts predict that CoStar Group will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Swedbank AB acquired a new stake in CoStar Group during the first quarter worth about $4,223,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in CoStar Group by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after purchasing an additional 17,658 shares in the last quarter. SG Americas Securities LLC lifted its stake in CoStar Group by 390.8% during the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after purchasing an additional 79,467 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of CoStar Group by 70.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,163 shares of the technology company’s stock valued at $5,258,000 after purchasing an additional 24,866 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of CoStar Group by 4.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 556,495 shares of the technology company’s stock valued at $46,061,000 after purchasing an additional 22,138 shares in 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.