CoStar Group (NASDAQ:CSGP) Price Target Lowered to $99.00 at JPMorgan Chase & Co.

CoStar Group (NASDAQ:CSGP) had its target price lowered by JPMorgan Chase & Co. from $108.00 to $99.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also weighed in on CSGP. StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC lowered their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $96.00 to $83.00 in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Up 0.8 %

NASDAQ CSGP opened at $74.48 on Wednesday. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81. The stock’s 50 day moving average is $76.46 and its 200 day moving average is $79.02.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Research analysts predict that CoStar Group will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

A number of large investors have recently made changes to their positions in CSGP. Crewe Advisors LLC purchased a new stake in CoStar Group in the 1st quarter worth about $31,000. Riverview Trust Co purchased a new stake in shares of CoStar Group in the first quarter worth approximately $35,000. RiverPark Advisors LLC purchased a new stake in shares of CoStar Group in the first quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group during the 2nd quarter worth approximately $49,000. Finally, Quarry LP purchased a new position in CoStar Group during the 2nd quarter valued at $54,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.