CoStar Group (CSGP) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of CoStar Group (NASDAQ:CSGP) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research analysts also recently weighed in on the company. Goldman Sachs Group initiated coverage on CoStar Group in a report on Wednesday, November 8th. They set a buy rating and a $359.00 price target on the stock. SunTrust Banks reiterated a buy rating and set a $335.00 price target on shares of CoStar Group in a report on Friday, October 27th. Needham & Company LLC reiterated a buy rating and set a $325.00 price target on shares of CoStar Group in a report on Friday, October 27th. B. Riley reiterated a buy rating and set a $350.00 price target (up previously from $335.00) on shares of CoStar Group in a report on Thursday, October 26th. Finally, Bank of America reiterated a buy rating and set a $306.00 price target on shares of CoStar Group in a report on Thursday, October 5th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $332.75.

Shares of CoStar Group (NASDAQ:CSGP) opened at $292.59 on Friday. CoStar Group has a 12 month low of $183.20 and a 12 month high of $314.73. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $10,580.00, a price-to-earnings ratio of 75.69, a PEG ratio of 4.52 and a beta of 1.55.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Wednesday, October 25th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.28. The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $243.44 million. CoStar Group had a return on equity of 7.63% and a net margin of 11.63%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. research analysts forecast that CoStar Group will post 3.99 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank lifted its position in shares of 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 buying an additional 44 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of CoStar Group in the second quarter worth about $134,000. LS Investment Advisors LLC lifted its position in shares of 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 buying an additional 24 shares during the last quarter. First Manhattan Co. acquired a new stake in shares of CoStar Group in the third quarter worth about $187,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of CoStar Group in the second quarter worth about $188,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.

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About CoStar Group

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.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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