CoStar Group (NASDAQ:CSGP) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group (NASDAQ:CSGP) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $89.00 price target on the technology company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 16.72% from the company’s current price.

CSGP has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Citigroup reduced their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Stephens reaffirmed an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $76.25 on Friday. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38. The firm’s fifty day simple moving average is $74.30 and its 200 day simple moving average is $75.54. 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 $31.27 billion, a PE ratio of 217.86 and a beta of 0.87.

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

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

Institutional Investors Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC increased its position in CoStar Group by 27.4% in the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after acquiring an additional 145 shares in the last quarter. DoubleLine ETF Adviser LP increased its position in CoStar Group by 0.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock valued at $2,105,000 after acquiring an additional 146 shares in the last quarter. Moran Wealth Management LLC increased its position in CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after acquiring an additional 161 shares in the last quarter. Allworth Financial LP increased its position in CoStar Group by 9.7% in the 4th 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 in the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds 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.