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

Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group (NASDAQ:CSGP) in a report released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $89.00 price target on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Citigroup decreased their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Up 2.5 %

Shares of CSGP stock opened at $76.25 on Friday. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 217.86 and a beta of 0.87. The firm’s 50-day moving average is $74.30 and its 200-day moving average is $75.52.

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

CoStar Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of CoStar Group

A number of institutional investors and hedge funds have recently made changes to their positions in CSGP. International Assets Investment Management LLC acquired a new stake in shares of CoStar Group in the 3rd quarter valued at $2,481,000. Wealth Enhancement Advisory Services LLC raised its stake in CoStar Group by 60.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after acquiring an additional 6,386 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of CoStar Group in the third quarter worth about $342,000. abrdn plc lifted its holdings in shares of CoStar Group by 72.5% in the third quarter. abrdn plc now owns 130,150 shares of the technology company’s stock worth $9,803,000 after acquiring an additional 54,713 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of CoStar Group by 27.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,107 shares of the technology company’s stock valued at $989,000 after purchasing an additional 2,820 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

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.