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

CoStar Group (NASDAQ:CSGP) had its price objective hoisted by BMO Capital Markets from $84.00 to $88.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a market perform rating on the technology company’s stock.

A number of other equities analysts have also commented 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. Citigroup upped their price objective on shares of CoStar Group from $90.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Bank of America upped their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. Jefferies Financial Group upped their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a research note on Friday, April 12th. Finally, William Blair reaffirmed an outperform rating on shares of CoStar Group in a research note on Wednesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $102.46.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $92.65 on Thursday. The company’s fifty day moving average price is $89.77 and its 200-day moving average price is $84.78. The firm has a market capitalization of $37.83 billion, a price-to-earnings ratio of 126.92, a PEG ratio of 10.59 and a beta of 0.84. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.64% and a return on equity of 4.95%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, equities research analysts anticipate that CoStar Group will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

Several institutional investors and hedge funds have recently modified their holdings of CSGP. CWM LLC lifted its position in shares of CoStar Group by 8.7% in the 3rd quarter. CWM LLC now owns 4,735 shares of the technology company’s stock worth $364,000 after purchasing an additional 377 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of CoStar Group by 80.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 13,453 shares of the technology company’s stock worth $1,034,000 after purchasing an additional 5,997 shares during the period. Oak Thistle LLC purchased a new stake in shares of CoStar Group in the 3rd quarter worth about $1,019,000. Czech National Bank increased its stake in shares of CoStar Group by 47.6% in the 3rd quarter. Czech National Bank now owns 71,369 shares of the technology company’s stock worth $5,488,000 after acquiring an additional 23,007 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of CoStar Group by 0.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 267,815 shares of the technology company’s stock worth $20,592,000 after acquiring an additional 2,479 shares in the last quarter. 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.