CoStar Group, Inc. (CSGP) Receives “Buy” Rating from Bank of America Corporation
CoStar Group, Inc. (NASDAQ:CSGP)‘s stock had its “buy” rating restated by investment analysts at Bank of America Corporation in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $306.00 target price on the technology company’s stock. Bank of America Corporation’s price target points to a potential upside of 12.59% from the company’s current price.
Several other research firms also recently issued reports on CSGP. Needham & Company LLC upped their price objective on CoStar Group from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $310.00 price objective on shares of CoStar Group in a report on Wednesday, September 13th. Zacks Investment Research downgraded CoStar Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, B. Riley reissued a “buy” rating and issued a $335.00 price target on shares of CoStar Group in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $312.57.
CoStar Group (CSGP) traded up 0.408% during mid-day trading on Thursday, hitting $272.899. The stock had a trading volume of 39,820 shares. The firm has a market cap of $8.96 billion, a P/E ratio of 91.608 and a beta of 1.51. The stock has a 50 day moving average of $278.82 and a 200-day moving average of $256.78. CoStar Group has a 1-year low of $179.22 and a 1-year high of $287.96.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The firm had revenue of $237.20 million for the quarter, compared to the consensus estimate of $234.38 million. During the same quarter in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Analysts predict that CoStar Group will post $4.45 EPS for the current fiscal year.
In related news, VP Matthew Linnington sold 1,767 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.98% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CSGP. Toronto Dominion Bank increased its position in shares of CoStar Group by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock valued at $106,000 after buying an additional 44 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of CoStar Group in the 2nd quarter valued at $134,000. LS Investment Advisors LLC increased its position in shares of CoStar Group by 3.5% in the 2nd quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock valued at $186,000 after buying an additional 24 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of CoStar Group in the 2nd quarter valued at $188,000. Finally, Capstone Asset Management Co. bought a new stake in shares of CoStar Group in the 2nd quarter valued at $211,000. Institutional investors and hedge funds own 99.84% of the company’s stock.
CoStar Group Company Profile
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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