Royal Bank Of Canada Reiterates “Sector Perform” Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank Of Canada in a report released on Tuesday,Benzinga reports. They currently have a $83.00 price objective on the technology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 2.01% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on CoStar Group from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Stephens upgraded shares of CoStar Group to a “strong-buy” rating and set a $105.00 target price on the stock in a research report on Monday, June 16th. Piper Sandler assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating on the stock. Wells Fargo & Company lifted their price target on shares of CoStar Group from $63.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, April 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.69.

CoStar Group Trading Up 1.7%

Shares of NASDAQ CSGP traded up $1.32 during midday trading on Tuesday, reaching $81.36. The stock had a trading volume of 382,821 shares, compared to its average volume of 2,899,879. CoStar Group has a twelve month low of $68.26 and a twelve month high of $83.68. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.01 and a current ratio of 6.01. The company’s 50 day moving average price is $77.78 and its 200 day moving average price is $76.35. The firm has a market cap of $34.33 billion, a price-to-earnings ratio of 280.51, a price-to-earnings-growth ratio of 4.01 and a beta of 0.87.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors and hedge funds have recently made changes to their positions in CSGP. Atria Wealth Solutions Inc. increased its holdings in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after purchasing an additional 176 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of CoStar Group by 8.2% during the fourth quarter. Private Advisor Group LLC now owns 10,886 shares of the technology company’s stock valued at $779,000 after buying an additional 828 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of CoStar Group by 17.5% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 81,770 shares of the technology company’s stock valued at $5,854,000 after buying an additional 12,200 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in CoStar Group by 98.6% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 38,765 shares of the technology company’s stock worth $2,775,000 after buying an additional 19,247 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in CoStar Group by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 6,374 shares of the technology company’s stock worth $456,000 after buying an additional 289 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.