CoStar Group (NASDAQ:CSGP) Lowered to Hold at Zacks Investment Research

CoStar Group (NASDAQ:CSGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “CoStar Group, Inc. provides information services to the commercial real estate industry. Their wide array of digital service offerings includes a leasing marketplace, a selling marketplace, sales comparable information, decision support, contact management, tenant information, property marketing, and industry news. They have three assets that provide a unique foundation for this marketplace: comprehensive national databases; large research department; and large number of participating organizations. “

Other equities research analysts have also issued reports about the company. Truist raised their price objective on CoStar Group from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Needham & Company LLC raised their price objective on CoStar Group from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Robert W. Baird raised their price objective on CoStar Group from $100.00 to $108.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Finally, Truist Securities raised their price objective on CoStar Group from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has an average rating of “Buy” and an average price target of $76.43.

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NASDAQ CSGP traded down $0.19 on Monday, reaching $78.84. 1,577,116 shares of the stock traded hands, compared to its average volume of 2,269,894. The stock’s fifty day moving average price is $81.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 12.18 and a current ratio of 12.18. The company has a market capitalization of $31.14 billion, a P/E ratio of 131.62, a price-to-earnings-growth ratio of 4.14 and a beta of 0.81. CoStar Group has a 12 month low of $74.31 and a 12 month high of $101.05.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Monday, October 25th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $499.32 million during the quarter, compared to analyst estimates of $497.97 million. CoStar Group had a return on equity of 6.82% and a net margin of 12.51%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted $0.19 EPS. Research analysts predict that CoStar Group will post 0.95 earnings per share for the current fiscal year.

In related news, Director Laura Cox Kaplan sold 4,040 shares of the stock in a transaction on Friday, November 5th. The stock was sold at an average price of $83.29, for a total transaction of $336,491.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Hill sold 9,235 shares of the stock in a transaction on Friday, October 29th. The stock was sold at an average price of $86.97, for a total value of $803,167.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,360 shares of company stock valued at $1,146,606. 1.36% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in CSGP. Creative Planning raised its holdings in shares of CoStar Group by 846.3% during the second quarter. Creative Planning now owns 9,520 shares of the technology company’s stock worth $788,000 after acquiring an additional 8,514 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in CoStar Group by 38.8% during the second quarter. Los Angeles Capital Management LLC now owns 4,850 shares of the technology company’s stock valued at $402,000 after buying an additional 1,355 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in CoStar Group by 982.3% during the second quarter. PNC Financial Services Group Inc. now owns 83,200 shares of the technology company’s stock valued at $6,890,000 after buying an additional 75,513 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in CoStar Group by 606.0% during the second quarter. Daiwa Securities Group Inc. now owns 19,020 shares of the technology company’s stock valued at $1,575,000 after buying an additional 16,326 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in CoStar Group by 821.5% during the second quarter. Nisa Investment Advisors LLC now owns 52,850 shares of the technology company’s stock valued at $4,377,000 after buying an additional 47,115 shares in the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.

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Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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