CoStar Group (NASDAQ:CSGP) Price Target Raised to $109.00 at Royal Bank of Canada

CoStar Group (NASDAQ:CSGP) had its target price boosted by Royal Bank of Canada from $95.00 to $109.00 in a report published on Monday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets lowered their target price on CoStar Group from $84.00 to $79.00 and set a market perform rating on the stock in a research note on Thursday, February 22nd. BTIG Research assumed coverage on CoStar Group in a research note on Friday, January 19th. They issued a neutral rating on the stock. Citigroup boosted their target price on CoStar Group from $90.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, February 7th. The Goldman Sachs Group boosted their target price on CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, Robert W. Baird upped their price target on CoStar Group from $90.00 to $105.00 and gave the stock an outperform rating in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $99.70.

CoStar Group Stock Up 1.1 %

NASDAQ:CSGP opened at $96.22 on Monday. The firm has a market capitalization of $39.30 billion, a price-to-earnings ratio of 104.59, a PEG ratio of 11.08 and a beta of 0.83. CoStar Group has a 1-year low of $67.03 and a 1-year high of $100.38. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $86.24 and its 200 day moving average price is $82.87.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. CoStar Group’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. On average, sell-side analysts forecast that CoStar Group will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

Several large investors have recently made changes to their positions in CSGP. Raymond James Financial Services Advisors Inc. lifted its position in shares of CoStar Group by 111.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,683 shares of the technology company’s stock worth $1,045,000 after purchasing an additional 8,253 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in CoStar Group by 504.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,874 shares of the technology company’s stock valued at $125,000 after acquiring an additional 1,564 shares in the last quarter. MetLife Investment Management LLC acquired a new position in CoStar Group in the 1st quarter valued at approximately $1,427,000. Panagora Asset Management Inc. raised its holdings in CoStar Group by 10.6% in the 1st quarter. Panagora Asset Management Inc. now owns 12,007 shares of the technology company’s stock valued at $800,000 after acquiring an additional 1,152 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in CoStar Group by 32.3% in the 1st quarter. Raymond James Trust N.A. now owns 5,884 shares of the technology company’s stock valued at $392,000 after acquiring an additional 1,435 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.