CoStar Group (NASDAQ:CSGP) Trading Up 3.3% – Should You Buy?

CoStar Group, Inc. (NASDAQ:CSGP)’s stock price traded up 3.3% during trading on Tuesday . The stock traded as high as $75.89 and last traded at $75.73. 193,753 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,237,439 shares. The stock had previously closed at $73.30.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSGP. Needham & Company LLC restated a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a research report on Tuesday, September 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a research note on Tuesday, September 10th. The Goldman Sachs Group cut their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America decreased their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Stock Up 3.3 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company’s 50-day simple moving average is $76.10 and its two-hundred day simple moving average is $80.80. The firm has a market cap of $30.91 billion, a PE ratio of 100.41 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 EPS. On average, analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

Hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in CoStar Group in the first quarter worth about $31,000. Riverview Trust Co purchased a new stake in CoStar Group in the 1st quarter valued at about $35,000. RiverPark Advisors LLC purchased a new position in CoStar Group during the 1st quarter worth $37,000. Connectus Wealth LLC lifted its position in shares of CoStar Group by 915.0% in the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares during the period. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of CoStar Group during the 2nd quarter worth $49,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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.