BMO Capital Markets Boosts CoStar Group (NASDAQ:CSGP) Price Target to $84.00

CoStar Group (NASDAQ:CSGP) had its price target lifted by investment analysts at BMO Capital Markets from $79.00 to $84.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential downside of 0.21% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a research report on Friday, April 12th. Bank of America increased their target price on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BTIG Research began coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods upped their price target on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Citigroup lifted their price objective on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

CoStar Group Trading Down 1.5 %

Shares of CSGP opened at $84.18 on Friday. The firm has a market cap of $34.38 billion, a P/E ratio of 91.50, a price-to-earnings-growth ratio of 9.82 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The company has a 50 day simple moving average of $89.08 and a two-hundred day simple moving average of $84.34.

CoStar Group (NASDAQ:CSGP) last posted its 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 company had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. CoStar Group’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. On average, equities analysts expect that CoStar Group will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG lifted its position in shares of CoStar Group by 37.1% during the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after purchasing an additional 200,183 shares during the last quarter. Simplicity Solutions LLC lifted its holdings in CoStar Group by 5.7% during the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock valued at $697,000 after buying an additional 431 shares in the last quarter. Wellington Management Group LLP boosted its position in CoStar Group by 22.7% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after buying an additional 662,592 shares during the period. LPL Financial LLC grew its stake in CoStar Group by 16.8% in the 3rd quarter. LPL Financial LLC now owns 86,580 shares of the technology company’s stock worth $6,657,000 after acquiring an additional 12,422 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of CoStar Group by 6.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,559 shares of the technology company’s stock worth $351,000 after acquiring an additional 260 shares during the period. 96.60% of the stock is currently 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.