CoStar Group (NASDAQ:CSGP) was downgraded by equities researchers at J P Morgan Chase & Co from an “overweight” rating to an “underweight” rating in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $325.00 price objective on the technology company’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 10.22% from the company’s previous close.
Several other brokerages have also issued reports on CSGP. BidaskClub lowered CoStar Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Stephens upped their price target on CoStar Group from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Goldman Sachs Group assumed coverage on CoStar Group in a research note on Wednesday, November 8th. They set a “buy” rating and a $359.00 price target on the stock. Zacks Investment Research raised CoStar Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $335.00 price target on shares of CoStar Group in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. CoStar Group has a consensus rating of “Buy” and an average target price of $331.89.
Shares of CoStar Group (NASDAQ CSGP) traded up $7.06 on Tuesday, hitting $294.86. The stock had a trading volume of 422,604 shares, compared to its average volume of 233,634. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.15. CoStar Group has a twelve month low of $184.86 and a twelve month high of $314.73. The firm has a market capitalization of $10,657.71, a price-to-earnings ratio of 73.90, a PEG ratio of 4.42 and a beta of 1.55.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.28. CoStar Group had a return on equity of 7.63% and a net margin of 11.63%. 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 firm posted $1.11 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. equities analysts predict that CoStar Group will post 3.99 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted 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 period. Robeco Institutional Asset Management B.V. acquired a new position in CoStar Group in the second quarter valued at about $134,000. First Manhattan Co. acquired a new position in CoStar Group in the third quarter valued at about $187,000. Cubist Systematic Strategies LLC acquired a new position in CoStar Group in the second quarter valued at about $188,000. Finally, Capstone Asset Management Co. acquired a new position in CoStar Group in the second quarter valued at about $211,000. 98.89% of the stock is currently owned by hedge funds and other institutional investors.
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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.