CoStar Group (CSGP) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of CoStar Group (NASDAQ:CSGP) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $396.00 target price on the technology company’s stock.
According to Zacks, “CoStar Group, Inc. provides information services to the commercial real estate industry. Their wide array of digital service offerings includes a leasing marketplace, a selling marketplace, sales comparable information, decision support, contact management, tenant information, property marketing, and industry news. They have three assets that provide a unique foundation for this marketplace: comprehensive national databases; large research department; and large number of participating organizations. “
Several other brokerages have also recently issued reports on CSGP. BidaskClub cut CoStar Group from a strong-buy rating to a buy rating in a research report on Tuesday. B. Riley lifted their target price on CoStar Group to $400.00 in a research report on Tuesday, February 20th. Needham & Company LLC lifted their target price on CoStar Group to $430.00 and gave the company a positive rating in a research report on Friday, February 23rd. SunTrust Banks lifted their target price on CoStar Group to $410.00 and gave the company a buy rating in a research report on Monday, February 5th. Finally, Citigroup reaffirmed a buy rating and set a $425.00 target price (up previously from $320.00) on shares of CoStar Group in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. CoStar Group has a consensus rating of Buy and an average price target of $380.10.
CoStar Group (NASDAQ:CSGP) last announced its earnings results on Wednesday, February 21st. The technology company reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The company had revenue of $253.99 million for the quarter, compared to analysts’ expectations of $253.74 million. CoStar Group had a return on equity of 6.75% and a net margin of 12.71%. CoStar Group’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. analysts predict that CoStar Group will post 6.25 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in CoStar Group by 3.1% during the third quarter. Janus Henderson Group PLC now owns 2,698,163 shares of the technology company’s stock worth $723,782,000 after acquiring an additional 81,157 shares during the period. BlackRock Inc. lifted its holdings in CoStar Group by 12.5% during the fourth quarter. BlackRock Inc. now owns 1,794,476 shares of the technology company’s stock worth $532,869,000 after acquiring an additional 199,267 shares during the period. Franklin Resources Inc. lifted its holdings in CoStar Group by 11.8% during the fourth quarter. Franklin Resources Inc. now owns 793,349 shares of the technology company’s stock worth $235,579,000 after acquiring an additional 83,605 shares during the period. JPMorgan Chase & Co. lifted its holdings in CoStar Group by 1,019.7% during the third quarter. JPMorgan Chase & Co. now owns 699,773 shares of the technology company’s stock worth $186,210,000 after acquiring an additional 637,278 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in CoStar Group by 6.3% during the third quarter. TimesSquare Capital Management LLC now owns 688,359 shares of the technology company’s stock worth $184,652,000 after acquiring an additional 40,492 shares during the period. Institutional investors and hedge funds own 97.20% of the company’s stock.
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About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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