Investment analysts at Keefe, Bruyette & Woods initiated coverage on shares of CoStar Group (NASDAQ:CSGP) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $650.00 price target on the technology company’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 11.06% from the stock’s previous close.
CSGP has been the subject of a number of other reports. SunTrust Banks raised their target price on Polaris Industries to $102.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. BidaskClub raised Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. Needham & Company LLC increased their price target on CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup cut International Container Terminal Services from a “buy” rating to a “neutral” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Co increased their price target on Twitter from $33.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $559.00.
NASDAQ CSGP traded up $4.46 during mid-day trading on Tuesday, hitting $585.27. The stock had a trading volume of 3,127 shares, compared to its average volume of 219,571. The stock’s 50 day moving average is $541.27. CoStar Group has a twelve month low of $315.85 and a twelve month high of $582.00. The company has a market capitalization of $20.62 billion, a PE ratio of 79.30, a price-to-earnings-growth ratio of 3.74 and a beta of 1.34.
CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.11. CoStar Group had a return on equity of 10.09% and a net margin of 21.76%. The business had revenue of $328.00 million during the quarter, compared to the consensus estimate of $327.45 million. During the same period last year, the company earned $1.44 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities analysts anticipate that CoStar Group will post 9 EPS for the current year.
In other CoStar Group news, Director John W. Hill sold 315 shares of CoStar Group stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $553.23, for a total transaction of $174,267.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.14% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Berman Capital Advisors LLC purchased a new stake in shares of CoStar Group in the fourth quarter valued at approximately $28,000. Executive Wealth Management LLC purchased a new stake in shares of CoStar Group in the fourth quarter valued at approximately $32,000. Icon Wealth Partners LLC purchased a new stake in shares of CoStar Group in the first quarter valued at approximately $90,000. Penserra Capital Management LLC purchased a new stake in shares of CoStar Group in the first quarter valued at approximately $179,000. Finally, ETF Managers Group LLC boosted its stake in shares of CoStar Group by 7.9% in the first quarter. ETF Managers Group LLC now owns 394 shares of the technology company’s stock valued at $184,000 after buying an additional 29 shares in the last quarter. Institutional investors own 96.04% of the company’s stock.
About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.
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