Stephens Reiterates Overweight Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $105.00 price target on the technology company’s stock. Stephens’ price target suggests a potential upside of 16.23% from the company’s previous close.

Several other equities research analysts have also commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a research report on Friday, April 12th. Robert W. Baird upped their price target on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Royal Bank of Canada upped their price target on shares of CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. BTIG Research initiated coverage on shares of CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating for the company. Finally, Bank of America upped their price target on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $90.34 on Wednesday. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The firm’s 50-day moving average is $89.55 and its 200 day moving average is $84.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01. The stock has a market cap of $36.90 billion, a price-to-earnings ratio of 123.75, a PEG ratio of 9.73 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 4.97% and a net margin of 11.64%. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the previous year, the firm earned $0.35 EPS. CoStar Group’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that CoStar Group will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Riverview Trust Co bought a new position in shares of CoStar Group during the 1st quarter valued at approximately $35,000. TFO Wealth Partners LLC boosted its position in shares of CoStar Group by 5,571.4% during the 4th quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock valued at $350,000 after acquiring an additional 390 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of CoStar Group during the 4th quarter valued at approximately $37,000. Finally, CVA Family Office LLC bought a new position in shares of CoStar Group during the 4th quarter valued at approximately $60,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.