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

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

A number of other research analysts also recently commented on the company. Bank of America increased their target price on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets increased their price target on CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a report on Friday, April 19th. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a report on Friday, April 12th. Royal Bank of Canada increased their price target on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Finally, Stephens restated an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Stock Down 1.8 %

NASDAQ CSGP opened at $90.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 9.09. The company has a market capitalization of $36.90 billion, a P/E ratio of 123.75, a P/E/G ratio of 10.57 and a beta of 0.84. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The stock has a 50 day moving average price of $89.55 and a 200-day moving average price of $84.68.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. As a group, equities analysts predict that CoStar Group will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CSGP. CWM LLC grew its position in shares of CoStar Group by 8.7% during the 3rd quarter. CWM LLC now owns 4,735 shares of the technology company’s stock worth $364,000 after buying an additional 377 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of CoStar Group by 13.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 69,520 shares of the technology company’s stock worth $5,345,000 after buying an additional 8,365 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of CoStar Group by 80.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 13,453 shares of the technology company’s stock worth $1,034,000 after buying an additional 5,997 shares in the last quarter. Oak Thistle LLC bought a new position in shares of CoStar Group during the 3rd quarter worth $1,019,000. Finally, Czech National Bank grew its position in shares of CoStar Group by 47.6% during the 3rd quarter. Czech National Bank now owns 71,369 shares of the technology company’s stock worth $5,488,000 after buying an additional 23,007 shares in the last quarter. Institutional investors 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.