SunTrust Banks, Inc. Reaffirms “Buy” Rating for CoStar Group, Inc. (CSGP)
CoStar Group, Inc. (NASDAQ:CSGP)‘s stock had its “buy” rating reissued by SunTrust Banks, Inc. in a research note issued on Friday. They currently have a $335.00 price objective on the technology company’s stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 11.90% from the company’s current price.
A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $325.00 price target on shares of CoStar Group in a report on Friday. B. Riley restated a “buy” rating and set a $350.00 price objective (up previously from $335.00) on shares of CoStar Group in a report on Thursday. Bank of America Corporation restated a “buy” rating and set a $306.00 price objective on shares of CoStar Group in a report on Thursday, October 5th. Zacks Investment Research downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, BidaskClub upgraded CoStar Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CoStar Group currently has an average rating of “Buy” and an average target price of $318.29.
CoStar Group (NASDAQ:CSGP) traded up 3.50% during trading on Friday, reaching $299.38. 430,061 shares of the company’s stock traded hands. The stock has a market capitalization of $9.83 billion, a P/E ratio of 100.50 and a beta of 1.51. The company has a 50-day moving average of $279.27 and a 200 day moving average of $265.73. CoStar Group has a 12 month low of $179.22 and a 12 month high of $301.04.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.28. CoStar Group had a net margin of 11.63% and a return on equity of 7.72%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $243.44 million. During the same period in the prior year, the company earned $1.11 EPS. CoStar Group’s revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that CoStar Group will post $4.58 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 business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $273.15, for a total transaction of $482,656.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.98% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Capital Management Inc. raised its holdings in CoStar Group by 2.3% during the 3rd quarter. American Capital Management Inc. now owns 49,681 shares of the technology company’s stock worth $13,327,000 after buying an additional 1,110 shares during the period. Baillie Gifford & Co. increased its holdings in shares of CoStar Group by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 174,734 shares of the technology company’s stock valued at $46,873,000 after purchasing an additional 1,564 shares during the period. Parametrica Management Ltd acquired a new position in shares of CoStar Group in the 3rd quarter valued at about $333,000. Victory Capital Management Inc. increased its holdings in shares of CoStar Group by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 6,983 shares of the technology company’s stock valued at $1,873,000 after purchasing an additional 181 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of CoStar Group in the 3rd quarter valued at about $266,000. Hedge funds and other institutional investors own 90.84% of the company’s stock.
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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