William Blair Reaffirms “Outperform” Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reaffirmed by equities researchers at William Blair in a research note issued to investors on Wednesday, RTT News reports.

A number of other equities research analysts have also weighed in on the stock. Needham & Company LLC lifted their price objective on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday. Stephens reiterated an “overweight” rating and set a $105.00 price objective on shares of CoStar Group in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Jefferies Financial Group lifted their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.15.

CoStar Group Price Performance

Shares of NASDAQ:CSGP traded up $5.42 on Wednesday, reaching $90.04. The company’s stock had a trading volume of 2,310,234 shares, compared to its average volume of 2,158,411. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The company has a 50-day simple moving average of $89.21 and a 200 day simple moving average of $84.59. The company has a market cap of $36.77 billion, a P/E ratio of 98.21, a PEG ratio of 9.81 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The firm had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. During the same period in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts anticipate that CoStar Group will post 0.44 EPS for the current fiscal year.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CSGP. Principal Financial Group Inc. boosted its holdings in CoStar Group by 4.0% during 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 in the last quarter. Bamco Inc. NY boosted its holdings in CoStar Group by 0.5% during the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock worth $1,476,019,000 after buying an additional 91,399 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in CoStar Group by 5.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after purchasing an additional 596,595 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in CoStar Group by 6.1% during the third quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock valued at $428,256,000 after purchasing an additional 319,960 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in CoStar Group by 4.1% during the third quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock worth $425,056,000 after purchasing an additional 218,094 shares during the last quarter. Institutional investors and hedge funds 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.