CoStar Group (NASDAQ:CSGP) Earns Overweight Rating from Analysts at Stephens

Stock analysts at Stephens started coverage on shares of CoStar Group (NASDAQ:CSGP - Get Free Report) in a report issued on Monday. The brokerage set an "overweight" rating and a $105.00 price target on the technology company's stock. Stephens' price target suggests a potential upside of 27.26% from the stock's previous close.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research report on Thursday, April 17th. Piper Sandler initiated coverage on CoStar Group in a report on Friday, February 28th. They set an "overweight" rating for the company. JMP Securities restated a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Finally, Needham & Company LLC boosted their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.69.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded up $1.35 during midday trading on Monday, hitting $82.51. The company's stock had a trading volume of 120,675 shares, compared to its average volume of 2,914,703. CoStar Group has a one year low of $68.26 and a one year high of $83.68. The stock has a fifty day moving average price of $77.42 and a 200 day moving average price of $76.32. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of 236.08 and a beta of 0.87.

CoStar Group announced that its board has authorized a share buyback program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its stake in CoStar Group by 13.4% in the 4th quarter. Empowered Funds LLC now owns 7,275 shares of the technology company's stock worth $521,000 after acquiring an additional 861 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company's stock worth $317,000 after purchasing an additional 220 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in CoStar Group by 11.1% in the fourth quarter. Everhart Financial Group Inc. now owns 4,827 shares of the technology company's stock worth $346,000 after purchasing an additional 484 shares in the last quarter. Allworth Financial LP lifted its position in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after acquiring an additional 173 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in CoStar Group by 9.1% during the 4th quarter. Sanctuary Advisors LLC now owns 28,900 shares of the technology company's stock worth $2,211,000 after acquiring an additional 2,422 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

About CoStar Group

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.

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