CoStar Group (NASDAQ:CSGP) Earns Outperform Rating from William Blair

William Blair reiterated their outperform rating on shares of CoStar Group (NASDAQ:CSGP - Free Report) in a research note issued to investors on Wednesday,RTT News reports.

A number of other research analysts have also recently commented on CSGP. JPMorgan Chase & Co. raised their price target on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America started coverage on shares of CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Robert W. Baird increased their price target on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Wells Fargo & Company restated an "underweight" rating and set a $70.00 price objective (up from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.23.

CoStar Group Stock Performance

CoStar Group stock traded up $1.96 during midday trading on Wednesday, hitting $92.96. The company's stock had a trading volume of 4,432,108 shares, compared to its average volume of 2,634,441. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 6.01. The company has a market cap of $39.22 billion, a price-to-earnings ratio of 371.84, a PEG ratio of 4.58 and a beta of 0.89. CoStar Group has a 1-year low of $68.26 and a 1-year high of $93.75. The company has a 50-day moving average price of $80.44 and a two-hundred day moving average price of $78.00.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, sell-side analysts predict that CoStar Group will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wayfinding Financial LLC bought a new stake in CoStar Group during the 1st quarter worth $29,000. Bayforest Capital Ltd acquired a new stake in shares of CoStar Group during the first quarter valued at about $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of CoStar Group during the first quarter valued at about $31,000. Zions Bancorporation National Association UT bought a new stake in shares of CoStar Group during the first quarter worth about $31,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after buying an additional 235 shares during the period. 96.60% of the stock is currently 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.