CoStar Group’s (CSGP) “Buy” Rating Reiterated at Bank of America Corporation
Bank of America Corporation reiterated their buy rating on shares of CoStar Group, Inc. (NASDAQ:CSGP) in a research report released on Thursday morning, Marketbeat.com reports. Bank of America Corporation currently has a $306.00 price objective on the technology company’s stock.
A number of other equities research analysts have also issued reports on the company. Stephens restated an overweight rating and issued a $275.00 price target (up from $260.00) on shares of CoStar Group in a research report on Monday, June 19th. SunTrust Banks, Inc. upped their price target on CoStar Group from $275.00 to $310.00 and gave the company a buy rating in a research report on Wednesday, July 5th. BidaskClub lowered CoStar Group from a strong-buy rating to a buy rating in a research report on Sunday, July 16th. Needham & Company LLC upped their price target on CoStar Group from $275.00 to $300.00 and gave the company a buy rating in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded CoStar Group from a hold rating to a strong-buy rating and set a $317.00 price target for the company in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. CoStar Group currently has a consensus rating of Buy and a consensus price target of $312.57.
CoStar Group (NASDAQ CSGP) traded up 0.92% during midday trading on Thursday, hitting $276.91. The stock had a trading volume of 296,308 shares. The company has a market cap of $9.09 billion, a PE ratio of 92.95 and a beta of 1.51. CoStar Group has a 12-month low of $179.22 and a 12-month high of $287.96. The firm has a 50-day moving average of $278.45 and a 200-day moving average of $257.40.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23. The business had revenue of $237.20 million during the quarter, compared to analyst estimates of $234.38 million. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. Equities research analysts forecast that CoStar Group will post $4.44 EPS for the current year.
In related news, VP Matthew Linnington sold 1,767 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $273.15, for a total value of $482,656.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.98% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its position in CoStar Group by 12.3% in the second quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock worth $106,000 after acquiring an additional 44 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in CoStar Group in the second quarter worth approximately $134,000. LS Investment Advisors LLC grew its position in CoStar Group by 3.5% in the second quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $186,000 after acquiring an additional 24 shares during the period. Cubist Systematic Strategies LLC purchased a new position in CoStar Group in the second quarter worth approximately $188,000. Finally, Capstone Asset Management Co. purchased a new position in CoStar Group in the second quarter worth approximately $211,000. Institutional investors own 99.84% of the company’s stock.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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