CoStar Group (CSGP) Downgraded by J P Morgan Chase & Co to Underweight

J P Morgan Chase & Co lowered shares of CoStar Group (NASDAQ:CSGP) from an overweight rating to an underweight rating in a research note published on Tuesday morning. The firm currently has $325.00 target price on the technology company’s stock.

CSGP has been the subject of several other reports. SunTrust Banks restated a buy rating and set a $310.00 target price on shares of CoStar Group in a report on Wednesday, September 13th. Bank of America restated a buy rating and set a $306.00 target price on shares of CoStar Group in a report on Thursday, October 5th. Goldman Sachs Group began coverage on CoStar Group in a report on Wednesday, November 8th. They set a buy rating and a $359.00 target price for the company. Zacks Investment Research cut CoStar Group from a buy rating to a hold rating in a report on Tuesday, September 26th. Finally, BidaskClub cut CoStar Group from a buy rating to a hold rating in a report on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $331.89.

CoStar Group (NASDAQ CSGP) traded down $2.67 on Tuesday, hitting $287.83. The stock had a trading volume of 600,800 shares, compared to its average volume of 199,580. CoStar Group has a 1 year low of $184.86 and a 1 year high of $314.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.96 and a quick ratio of 3.96. The stock has a market cap of $10,500.26, a PE ratio of 72.81, a P/E/G ratio of 4.35 and a beta of 1.55.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.28. CoStar Group had a return on equity of 7.63% and a net margin of 11.63%. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $243.44 million. During the same period in the prior year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. research analysts expect that CoStar Group will post 3.99 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSGP. Janus Henderson Group PLC raised its position in CoStar Group by 2,015.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,617,006 shares of the technology company’s stock valued at $689,842,000 after purchasing an additional 2,493,281 shares during the last quarter. JPMorgan Chase & Co. raised its position in CoStar Group by 1,019.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 699,773 shares of the technology company’s stock valued at $186,210,000 after purchasing an additional 637,278 shares during the last quarter. Citadel Advisors LLC raised its position in CoStar Group by 947.8% during the 3rd quarter. Citadel Advisors LLC now owns 146,123 shares of the technology company’s stock valued at $39,198,000 after purchasing an additional 132,177 shares during the last quarter. Balyasny Asset Management LLC raised its position in CoStar Group by 773.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 108,342 shares of the technology company’s stock valued at $28,559,000 after purchasing an additional 95,933 shares during the last quarter. Finally, First Trust Advisors LP raised its position in CoStar Group by 2,599.7% during the 3rd quarter. First Trust Advisors LP now owns 89,118 shares of the technology company’s stock valued at $23,906,000 after purchasing an additional 85,817 shares during the last quarter. 98.89% of the stock is owned by institutional investors and hedge funds.

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About CoStar Group

CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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