CoStar Group (NASDAQ:CSGP) Price Target Raised to $88.00

CoStar Group (NASDAQ:CSGP) had its price target boosted by BMO Capital Markets from $84.00 to $88.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential downside of 2.40% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. BTIG Research initiated coverage on CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating for the company. Needham & Company LLC lifted their price target on CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Price Performance

CSGP traded down $1.79 on Thursday, hitting $90.16. 952,016 shares of the company’s stock were exchanged, compared to its average volume of 2,177,610. The firm has a 50-day moving average price of $89.40 and a 200-day moving average price of $84.64. The stock has a market cap of $36.82 billion, a price-to-earnings ratio of 123.71, a P/E/G ratio of 9.73 and a beta of 0.84. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.97% and a net margin of 11.64%. The company had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that CoStar Group will post 0.44 earnings per share for the current year.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Blue Trust Inc. lifted its holdings in shares of CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after acquiring an additional 173 shares during the period. Riverview Trust Co purchased a new stake in CoStar Group during the 1st quarter worth $35,000. Pinnacle Bancorp Inc. acquired a new position in shares of CoStar Group in the fourth quarter worth about $37,000. Connectus Wealth LLC raised its holdings in CoStar Group by 915.0% in the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after acquiring an additional 467,534 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in CoStar Group in the fourth quarter valued at about $60,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

About CoStar Group

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.