CoStar Group (NASDAQ:CSGP) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group (NASDAQ:CSGP) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $89.00 price target on the technology company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 19.69% from the stock’s previous close.

Several other brokerages have also commented on CSGP. JPMorgan Chase & Co. dropped their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday, February 19th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Wells Fargo & Company decreased their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Trading Down 3.3 %

Shares of CoStar Group stock opened at $74.36 on Friday. The business’s fifty day moving average is $74.21 and its two-hundred day moving average is $75.49. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The firm has a market cap of $30.50 billion, a PE ratio of 212.46 and a beta of 0.87. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. Analysts anticipate that CoStar Group will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has authorized a stock repurchase program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On CoStar Group

Institutional investors have recently made changes to their positions in the stock. Hopwood Financial Services Inc. acquired a new position in CoStar Group during the 4th quarter valued at approximately $25,000. ORG Partners LLC grew its position in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group during the 4th quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after purchasing an additional 402 shares during the period. 96.60% of the stock is owned by 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.