CoStar Group, Inc. (NASDAQ:CSGP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

A number of other research analysts have also commented on the stock. Stephens upped their price target on shares of CoStar Group from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $335.00 price target on shares of CoStar Group in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $325.00 price target on shares of CoStar Group in a research note on Friday. B. Riley reiterated a “buy” rating and issued a $350.00 price target (up previously from $335.00) on shares of CoStar Group in a research note on Thursday, October 26th. Finally, Bank of America Corp reiterated a “buy” rating and issued a $306.00 price target on shares of CoStar Group in a research note on Thursday, October 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. CoStar Group has an average rating of “Buy” and a consensus target price of $329.00.

CoStar Group (NASDAQ:CSGP) traded up 0.42% during midday trading on Tuesday, hitting $295.75. 290,902 shares of the company traded hands. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 99.28 and a beta of 1.52. The stock’s 50-day moving average price is $279.66 and its 200 day moving average price is $267.26. CoStar Group has a 12-month low of $179.21 and a 12-month high of $301.04.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.41 EPS 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 7.63%. The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $243.44 million. During the same quarter in the prior year, the business earned $1.11 EPS. CoStar Group’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts forecast that CoStar Group will post $4.69 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank boosted its holdings in 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 purchasing an additional 44 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in CoStar Group in the 2nd quarter valued at about $134,000. First Manhattan Co. bought a new stake in CoStar Group in the 3rd quarter valued at about $187,000. LS Investment Advisors LLC boosted its holdings in 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 purchasing an additional 24 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in CoStar Group in the 2nd quarter valued at about $188,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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