CoStar Group (NASDAQ:CSGP) Stock Rating Reaffirmed by Stephens

Stephens reiterated their overweight rating on shares of CoStar Group (NASDAQ:CSGP) in a research report released on Wednesday morning, Benzinga reports. Stephens currently has a $105.00 price objective on the technology company’s stock.

A number of other equities research analysts have also issued reports on the company. Needham & Company LLC raised their price target on CoStar Group from $90.00 to $107.00 and gave the stock a buy rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on CoStar Group from $96.00 to $107.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods raised their price target on CoStar Group from $96.00 to $109.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Royal Bank of Canada raised their price target on CoStar Group from $95.00 to $109.00 and gave the stock an outperform rating in a research note on Monday, March 25th. Finally, Jefferies Financial Group raised 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. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $102.46.

CoStar Group Price Performance

NASDAQ:CSGP opened at $92.65 on Wednesday. The firm 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 1 year low of $67.35 and a 1 year high of $100.38. The business has a 50 day simple moving average of $89.77 and a 200-day simple moving average of $84.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Equities analysts forecast that CoStar Group will post 0.43 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of CoStar Group in the 4th quarter valued at $406,934,000. Capital International Investors increased its holdings in shares of CoStar Group by 32.2% in the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after acquiring an additional 982,837 shares during the period. Capital Research Global Investors increased its holdings in shares of CoStar Group by 49.2% in the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after acquiring an additional 796,386 shares during the period. Principal Financial Group Inc. increased its holdings in shares of CoStar Group by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after acquiring an additional 761,383 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in shares of CoStar Group by 109.6% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after acquiring an additional 731,375 shares during the period. 96.60% of the stock is owned by 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.