JPMorgan Chase & Co. Upgrades CoStar Group (NASDAQ:CSGP) to “Overweight”

JPMorgan Chase & Co. upgraded shares of CoStar Group (NASDAQ:CSGP) from an underweight rating to an overweight rating in a report issued on Wednesday morning, BenzingaRatingsTable reports. They currently have $900.00 price objective on the technology company’s stock, up from their prior price objective of $660.00.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird initiated coverage on shares of CoStar Group in a research note on Wednesday, June 17th. They set an outperform rating and a $755.00 price objective for the company. BidaskClub downgraded shares of CoStar Group from a strong-buy rating to a buy rating in a research note on Tuesday, July 14th. Wells Fargo & Co lifted their price objective on shares of CoStar Group from $755.00 to $800.00 and gave the stock an overweight rating in a research note on Monday, June 8th. Needham & Company LLC lifted their price objective on shares of CoStar Group from $700.00 to $775.00 and gave the stock a buy rating in a research note on Friday, June 19th. Finally, Zacks Investment Research upgraded shares of CoStar Group from a sell rating to a hold rating in a research report on Wednesday, July 1st. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $791.08.

Shares of NASDAQ:CSGP traded up $17.08 on Wednesday, hitting $849.76. 280,507 shares of the company were exchanged, compared to its average volume of 344,516. CoStar Group has a 1-year low of $500.24 and a 1-year high of $939.00. The stock’s 50 day moving average price is $708.87 and its 200 day moving average price is $661.58. The company has a current ratio of 14.01, a quick ratio of 8.75 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $32.78 billion, a P/E ratio of 90.81 and a beta of 1.10.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.34. CoStar Group had a net margin of 19.76% and a return on equity of 8.81%. The business had revenue of $392.00 million during the quarter, compared to the consensus estimate of $390.18 million. During the same period in the previous year, the firm posted $2.23 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts predict that CoStar Group will post 8.26 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC raised its position in shares of CoStar Group by 164.3% in the second quarter. Flagship Harbor Advisors LLC now owns 37 shares of the technology company’s stock worth $26,000 after acquiring an additional 23 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of CoStar Group in the second quarter worth about $39,000. Balentine LLC acquired a new position in shares of CoStar Group in the first quarter worth about $42,000. Rockefeller Capital Management L.P. raised its position in shares of CoStar Group by 100.0% in the first quarter. Rockefeller Capital Management L.P. now owns 74 shares of the technology company’s stock worth $43,000 after acquiring an additional 37 shares during the period. Finally, Citizens Financial Group Inc RI raised its position in shares of CoStar Group by 405.6% in the first quarter. Citizens Financial Group Inc RI now owns 91 shares of the technology company’s stock worth $53,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 89.13% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

Featured Story: Momentum Indicators

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

Receive News & Ratings for CoStar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoStar Group and related companies with MarketBeat.com's FREE daily email newsletter.