CoStar Group (NASDAQ:CSGP) Shares Gap Up on Analyst Upgrade

CoStar Group, Inc. (NASDAQ:CSGP)’s share price gapped up before the market opened on Monday after JPMorgan Chase & Co. raised their price target on the stock from $102.00 to $108.00. The stock had previously closed at $75.27, but opened at $77.33. JPMorgan Chase & Co. currently has an overweight rating on the stock. CoStar Group shares last traded at $74.43, with a volume of 90,429 shares.

A number of other equities research analysts have also commented on CSGP. BMO Capital Markets increased their price target on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Robert W. Baird decreased their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research report on Wednesday, July 24th. Finally, JMP Securities dropped their target price on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.38.

Insider Activity at CoStar Group

In other CoStar Group news, Director John W. Hill 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CoStar Group

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC grew its holdings in shares of CoStar Group by 42,150.0% in the 2nd quarter. Quest Partners LLC now owns 5,070 shares of the technology company’s stock valued at $376,000 after buying an additional 5,058 shares during the period. Caprock Group LLC acquired a new position in CoStar Group in the second quarter valued at about $223,000. Acadian Asset Management LLC acquired a new position in CoStar Group in the second quarter valued at about $816,000. SRS Capital Advisors Inc. increased its holdings in shares of CoStar Group by 8.3% in the second quarter. SRS Capital Advisors Inc. now owns 8,838 shares of the technology company’s stock worth $655,000 after acquiring an additional 679 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its position in shares of CoStar Group by 18.0% during the second quarter. Lake Street Advisors Group LLC now owns 5,523 shares of the technology company’s stock worth $409,000 after purchasing an additional 842 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $75.63 and a two-hundred day moving average price of $83.76. The firm has a market cap of $30.15 billion, a P/E ratio of 100.77, a PEG ratio of 11.18 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate 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 net margin of 8.19% and a return on equity of 3.99%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. Equities analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

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.