CoStar Group’s (CSGP) Outperform Rating Reiterated at William Blair

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reissued by investment analysts at William Blair in a research report issued to clients and investors on Wednesday, RTT News reports.

CSGP has been the subject of several other reports. The Goldman Sachs Group upped their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. BTIG Research initiated coverage on CoStar Group in a report on Friday, January 19th. They set a “neutral” rating for the company. Needham & Company LLC increased their price objective on CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a report on Wednesday. Finally, Citigroup raised their price target on CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.15.

CoStar Group Stock Up 6.4 %

Shares of CoStar Group stock traded up $5.42 on Wednesday, hitting $90.04. The company had a trading volume of 2,310,234 shares, compared to its average volume of 2,158,411. The stock has a market capitalization of $36.77 billion, a price-to-earnings ratio of 98.21, a P/E/G ratio of 9.81 and a beta of 0.84. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The stock has a 50 day moving average of $89.21 and a 200-day moving average of $84.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. CoStar Group’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, sell-side analysts forecast that CoStar Group will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in CoStar Group during the fourth quarter valued at about $406,934,000. Capital International Investors increased its holdings in shares of CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after buying an additional 982,837 shares during the period. Capital Research Global Investors increased its holdings in shares of CoStar Group by 49.2% in the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after buying an additional 796,386 shares during the period. Principal Financial Group Inc. increased its holdings in shares of CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after buying an additional 761,383 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in shares of CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after buying an additional 731,375 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

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.