CoStar Group (NASDAQ:CSGP) Cut to Hold at BidaskClub

BidaskClub lowered shares of CoStar Group (NASDAQ:CSGP) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.

Several other research firms have also commented on CSGP. SunTrust Banks increased their price objective on shares of CoStar Group to $460.00 and gave the company a positive rating in a research report on Wednesday, February 27th. Zacks Investment Research lowered shares of CoStar Group from a buy rating to a hold rating in a research report on Monday, May 13th. Wells Fargo & Co increased their price objective on shares of CoStar Group from $475.00 to $500.00 and gave the company an outperform rating in a research report on Wednesday, February 27th. Bank of America increased their target price on shares of CoStar Group from $460.00 to $550.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Finally, Citigroup increased their target price on shares of CoStar Group from $490.00 to $575.00 and gave the company a buy rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $547.63.

Shares of NASDAQ:CSGP opened at $538.44 on Friday. The stock’s fifty day moving average is $525.37. CoStar Group has a fifty-two week low of $315.85 and a fifty-two week high of $562.65. The company has a market capitalization of $19.68 billion, a price-to-earnings ratio of 72.76, a price-to-earnings-growth ratio of 3.72 and a beta of 1.34.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, April 23rd. The technology company reported $2.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.11. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The business had revenue of $328.00 million during the quarter, compared to analyst estimates of $327.45 million. During the same quarter last year, the business earned $1.44 earnings per share. CoStar Group’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, analysts anticipate that CoStar Group will post 9 EPS for the current fiscal year.

In other news, Director John W. Hill sold 315 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $553.23, for a total value of $174,267.45. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.14% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Berman Capital Advisors LLC purchased a new position in CoStar Group in the 4th quarter worth about $28,000. Executive Wealth Management LLC purchased a new position in CoStar Group in the 4th quarter worth about $32,000. Icon Wealth Partners LLC purchased a new position in CoStar Group in the 1st quarter worth about $90,000. Penserra Capital Management LLC purchased a new position in CoStar Group in the 1st quarter worth about $179,000. Finally, ETF Managers Group LLC increased its stake in CoStar Group by 7.9% in the 1st quarter. ETF Managers Group LLC now owns 394 shares of the technology company’s stock worth $184,000 after buying an additional 29 shares during the period. 96.04% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

See Also: Back-End Load

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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