CoStar Group (CSGP) Downgraded by J P Morgan Chase & Co

J P Morgan Chase & Co downgraded shares of CoStar Group (NASDAQ:CSGP) from an overweight rating to an underweight rating in a research note published on Tuesday, Marketbeat reports. J P Morgan Chase & Co currently has $325.00 price target on the technology company’s stock.

CSGP has been the topic of a number of other research reports. SunTrust Banks reiterated a buy rating and issued a $310.00 price objective on shares of CoStar Group in a research report on Wednesday, September 13th. Bank of America reiterated a buy rating and issued a $306.00 price objective on shares of CoStar Group in a research report on Thursday, October 5th. Goldman Sachs Group assumed coverage on CoStar Group in a research report on Wednesday, November 8th. They set a buy rating and a $359.00 price target on the stock. Zacks Investment Research downgraded CoStar Group from a buy rating to a hold rating in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded CoStar Group from a buy rating to a hold rating in a research report on Saturday, December 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $331.89.

Shares of CoStar Group (NASDAQ:CSGP) traded down $3.36 during mid-day trading on Tuesday, hitting $287.80. The company had a trading volume of 342,000 shares, compared to its average volume of 200,828. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.15. CoStar Group has a one year low of $184.86 and a one year high of $314.73. The stock has a market capitalization of $10,560.00, a P/E ratio of 72.97, a PEG ratio of 4.36 and a beta of 1.55.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data 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. CoStar Group had a return on equity of 7.63% and a net margin of 11.63%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $243.44 million. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. sell-side analysts predict that CoStar Group will post 3.99 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 3.1% in the third quarter. Janus Henderson Group PLC now owns 2,698,163 shares of the technology company’s stock worth $723,782,000 after buying an additional 81,157 shares during the period. Vanguard Group Inc. increased its holdings in shares of CoStar Group by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,633,434 shares of the technology company’s stock worth $694,173,000 after buying an additional 79,521 shares during the period. BlackRock Inc. grew its stake in shares of CoStar Group by 0.5% in the second quarter. BlackRock Inc. now owns 1,554,466 shares of the technology company’s stock worth $409,755,000 after purchasing an additional 7,555 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of CoStar Group by 1,019.7% in the third quarter. JPMorgan Chase & Co. now owns 699,773 shares of the technology company’s stock worth $186,210,000 after purchasing an additional 637,278 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of CoStar Group by 6.3% in the third quarter. TimesSquare Capital Management LLC now owns 688,359 shares of the technology company’s stock worth $184,652,000 after purchasing an additional 40,492 shares during the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

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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.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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