CoStar Group (NASDAQ:CSGP) Given “Buy” Rating at Needham & Company LLC

CoStar Group (NASDAQ:CSGP)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $107.00 price objective on the technology company’s stock. Needham & Company LLC’s target price suggests a potential upside of 37.46% from the company’s previous close.

A number of other equities analysts have also commented on CSGP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $109.00 price target on shares of CoStar Group in a research report on Friday, June 7th. BMO Capital Markets lifted their price target on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Stephens restated an “overweight” rating and set a $105.00 price objective on shares of CoStar Group in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group upped their target price on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.08.

CoStar Group Stock Up 2.0 %

CoStar Group stock opened at $77.84 on Wednesday. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. The stock has a market cap of $31.79 billion, a P/E ratio of 106.63, a P/E/G ratio of 13.02 and a beta of 0.81. The company’s 50-day moving average price is $76.99 and its two-hundred day moving average price is $84.02. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a return on equity of 4.01% and a net margin of 8.19%. The business 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 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect that CoStar Group will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. Norges Bank bought a new stake in CoStar Group during the 4th quarter worth approximately $406,934,000. Janus Henderson Group PLC grew its stake in shares of CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares during the last quarter. Capital International Investors increased its holdings in CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after purchasing an additional 982,837 shares during the period. Capital Research Global Investors raised its position in CoStar Group by 49.2% during the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after purchasing an additional 796,386 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in CoStar Group by 109.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after buying an additional 731,375 shares during the period. Institutional investors and hedge funds 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.