CoStar Group (CSGP) Lifted to “Buy” at Zacks Investment Research

CoStar Group (NASDAQ:CSGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $375.00 price target on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.33% from the company’s current price.

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. “

Several other equities research analysts have also weighed in on CSGP. BidaskClub upgraded CoStar Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 5th. SunTrust Banks upped their price objective on CoStar Group to $410.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Needham & Company LLC reiterated a “buy” rating and issued a $325.00 price objective on shares of CoStar Group in a research note on Friday, October 27th. Stephens upped their price objective on CoStar Group from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, JPMorgan Chase & Co. downgraded CoStar Group from an “overweight” rating to an “underweight” rating and set a $325.00 target price on the stock. in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $365.00.

Shares of CoStar Group (NASDAQ CSGP) traded down $1.07 on Thursday, reaching $327.99. The company had a trading volume of 158,985 shares, compared to its average volume of 247,974. CoStar Group has a 1 year low of $197.18 and a 1 year high of $355.80. The company has a market capitalization of $11,855.20, a price-to-earnings ratio of 82.20, a price-to-earnings-growth ratio of 3.57 and a beta of 1.66. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.15.

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. Lenox Wealth Advisors Inc. acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $102,000. Toronto Dominion Bank boosted its holdings in shares of CoStar Group by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock worth $106,000 after acquiring an additional 44 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $129,000. First Manhattan Co. acquired a new position in shares of CoStar Group in the 3rd quarter worth approximately $187,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $188,000. 98.85% of the stock is currently owned by institutional investors and hedge funds.

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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.

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