CoStar Group (NASDAQ:CSGP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of CoStar Group (NASDAQ:CSGP - Free Report) from a sell rating to a hold rating in a report issued on Tuesday morning.

CSGP has been the subject of a number of other reports. Needham & Company LLC restated a buy rating and set a $107.00 price objective on shares of CoStar Group in a research note on Tuesday, September 17th. Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an outperform rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $109.00 to $100.00 and set an outperform rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $102.00 to $108.00 and gave the stock an overweight rating in a report on Monday, August 5th. Finally, Royal Bank of Canada restated an outperform rating and issued a $96.00 price target on shares of CoStar Group in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $96.38.

CoStar Group Price Performance

CSGP traded up $2.90 on Tuesday, reaching $76.20. The company had a trading volume of 523,086 shares, compared to its average volume of 2,239,400. The company has a market cap of $31.12 billion, a price-to-earnings ratio of 100.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The business has a 50 day simple moving average of $76.10 and a 200 day simple moving average of $80.80.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company had revenue of $677.80 million during the quarter, compared to analysts' expectations of $677.18 million. During the same period in the prior year, the business posted $0.27 EPS. CoStar Group's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CoStar Group will post 0.49 EPS for the current year.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CSGP. Concurrent Investment Advisors LLC raised its stake in shares of CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company's stock valued at $242,000 after buying an additional 112 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company's stock worth $352,000 after buying an additional 135 shares in the last quarter. Redmond Asset Management LLC raised its position in CoStar Group by 0.9% during the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company's stock worth $1,804,000 after acquiring an additional 169 shares during the period. S.E.E.D. Planning Group LLC grew its stake in CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company's stock valued at $2,688,000 after acquiring an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in CoStar Group by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company's stock valued at $2,780,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

About CoStar Group

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.