BNP Paribas Exane Begins Coverage on CoStar Group (NASDAQ:CSGP)

BNP Paribas Exane initiated coverage on shares of CoStar Group (NASDAQ:CSGP) in a research report issued to clients and investors on Wednesday. The firm set a “neutral” rating and a $64.00 price target on the technology company’s stock. BNP Paribas Exane’s price target indicates a potential upside of 3.55% from the stock’s previous close.

CSGP has been the topic of a number of other research reports. Wells Fargo & Company reissued an “underweight” rating and issued a $55.00 target price (down previously from $60.00) on shares of CoStar Group in a research report on Thursday, January 8th. BMO Capital Markets reduced their target price on shares of CoStar Group from $77.00 to $72.00 and set a “market perform” rating on the stock in a report on Thursday, January 8th. Citizens Jmp lowered their price target on shares of CoStar Group from $100.00 to $78.00 and set a “market outperform” rating for the company in a report on Thursday, January 8th. Zacks Research lowered shares of CoStar Group from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft set a $68.00 target price on CoStar Group in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.50.

CoStar Group Price Performance

NASDAQ:CSGP opened at $61.80 on Wednesday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average price is $66.56 and its 200-day moving average price is $78.49. CoStar Group has a 52 week low of $57.01 and a 52 week high of $97.43. The stock has a market capitalization of $26.19 billion, a PE ratio of 1,226.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 28th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $833.60 million for the quarter, compared to analyst estimates of $823.62 million. CoStar Group had a net margin of 0.66% and a return on equity of 2.45%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. CoStar Group has set its Q4 2025 guidance at 0.260-0.280 EPS and its FY 2025 guidance at 0.820-0.840 EPS. As a group, equities analysts expect that CoStar Group will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a share buyback program on Wednesday, January 7th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On CoStar Group

Several hedge funds have recently made changes to their positions in CSGP. Vanguard Group Inc. raised its stake in CoStar Group by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 70,056,441 shares of the technology company’s stock valued at $5,910,662,000 after acquiring an additional 1,208,958 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of CoStar Group by 3.4% in the second quarter. Bamco Inc. NY now owns 19,679,935 shares of the technology company’s stock valued at $1,582,267,000 after purchasing an additional 647,413 shares during the period. State Street Corp raised its stake in shares of CoStar Group by 3.1% during the third quarter. State Street Corp now owns 18,284,128 shares of the technology company’s stock worth $1,542,632,000 after purchasing an additional 551,160 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CoStar Group by 2.4% during the second quarter. Geode Capital Management LLC now owns 12,357,840 shares of the technology company’s stock worth $989,905,000 after purchasing an additional 290,404 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in CoStar Group by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,406,788 shares of the technology company’s stock valued at $624,911,000 after buying an additional 821,111 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.