CoStar Group, Inc. (CSGP) Rating Reiterated by Bank of America Corporation
CoStar Group, Inc. (NASDAQ:CSGP)‘s stock had its “buy” rating reaffirmed by analysts at Bank of America Corporation in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $306.00 price objective on the technology company’s stock. Bank of America Corporation’s price objective points to a potential upside of 11.60% from the company’s current price.
A number of other brokerages also recently weighed in on CSGP. Needham & Company LLC raised their price objective on CoStar Group from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $310.00 price target on shares of CoStar Group in a research note on Wednesday, September 13th. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub upgraded CoStar Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, B. Riley reiterated a “buy” rating and issued a $335.00 price target on shares of CoStar Group in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $312.57.
CoStar Group (CSGP) traded up 0.96% during trading on Thursday, hitting $274.39. The stock had a trading volume of 194,387 shares. The stock’s 50-day moving average is $278.82 and its 200-day moving average is $256.78. The stock has a market capitalization of $9.01 billion, a PE ratio of 92.11 and a beta of 1.51. CoStar Group has a 52-week low of $179.22 and a 52-week high of $287.96.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The company had revenue of $237.20 million for the quarter, compared to the consensus estimate of $234.38 million. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts predict that CoStar Group will post $4.44 earnings per share for the current fiscal year.
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In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of the stock in a transaction dated Monday, July 31st. The stock was 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 can be accessed through the SEC website. Company insiders own 2.98% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CSGP. Toronto Dominion Bank raised its stake in CoStar Group by 12.3% in the second quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock valued at $106,000 after buying an additional 44 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in CoStar Group in the second quarter valued at about $134,000. LS Investment Advisors LLC raised its stake in CoStar Group by 3.5% in the second 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 during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in CoStar Group in the second quarter valued at about $188,000. Finally, Capstone Asset Management Co. purchased a new position in shares of CoStar Group in the second quarter worth about $211,000. Institutional investors 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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