CoStar Group (NASDAQ:CSGP) Reaches New 1-Year High - Here's Why

Shares of CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $86.59 and last traded at $85.26, with a volume of 443872 shares trading hands. The stock had previously closed at $85.01.

Wall Street Analyst Weigh In

CSGP has been the subject of several research analyst reports. Bank of America initiated coverage on CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a research report on Monday, June 16th. Needham & Company LLC upped their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods raised their target price on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and a consensus price target of $88.46.

CoStar Group Stock Down 0.4%

The firm has a 50 day moving average price of $79.40 and a 200-day moving average price of $77.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.01 and a quick ratio of 6.01. The firm has a market cap of $35.72 billion, a price-to-earnings ratio of 291.84, a price-to-earnings-growth ratio of 4.27 and a beta of 0.89.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CSGP. Bayforest Capital Ltd acquired a new position in shares of CoStar Group in the 1st quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in CoStar Group during the first quarter valued at $29,000. GKV Capital Management Co. Inc. bought a new position in shares of CoStar Group in the first quarter worth $31,000. Zions Bancorporation National Association UT purchased a new position in CoStar Group during the first quarter worth about $31,000. Finally, Cullen Frost Bankers Inc. lifted its stake in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after purchasing an additional 235 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

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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