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

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $84.06 and last traded at $83.63, with a volume of 163632 shares traded. The stock had previously closed at $82.83.

Analysts Set New Price Targets

Several analysts have recently issued reports on CSGP shares. Keefe, Bruyette & Woods boosted their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Wells Fargo & Company lifted their target price on CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a report on Wednesday, April 30th. Needham & Company LLC upped their price target on CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. Finally, Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 target price for the company in a report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and an average price target of $87.69.

CoStar Group Stock Up 1.6%

The company has a market capitalization of $36.22 billion, a price-to-earnings ratio of 296.16, a P/E/G ratio of 4.17 and a beta of 0.89. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average price of $78.12 and a two-hundred day moving average price of $76.92.

Institutional Trading of CoStar Group

Several institutional investors have recently added to or reduced their stakes in CSGP. Hopwood Financial Services Inc. bought a new stake in shares of CoStar Group in the 4th quarter worth about $25,000. Wayfinding Financial LLC acquired a new position in CoStar Group in the first quarter worth about $29,000. Bayforest Capital Ltd acquired a new position in CoStar Group in the first quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in CoStar Group in the fourth quarter valued at about $30,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in CoStar Group during the first quarter valued at approximately $31,000. 96.60% of the stock is owned by institutional investors and hedge funds.

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.