CoStar Group (NASDAQ:CSGP) Price Target Raised to $107.00 at Needham & Company LLC

CoStar Group (NASDAQ:CSGP) had its target price upped by Needham & Company LLC from $90.00 to $107.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research firms also recently issued reports on CSGP. Robert W. Baird upped their target price on shares of CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a research report on Monday, March 18th. Royal Bank of Canada increased their price target on shares of CoStar Group from $95.00 to $109.00 and gave the company an outperform rating in a research report on Monday, March 25th. BTIG Research assumed coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a neutral rating on the stock. BMO Capital Markets increased their price target on shares of CoStar Group from $79.00 to $84.00 and gave the company a market perform rating in a research report on Friday, April 19th. Finally, The Goldman Sachs Group increased their price target on shares of CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $102.15.

CoStar Group Trading Up 8.7 %

Shares of CoStar Group stock opened at $91.95 on Wednesday. The firm has a market capitalization of $37.55 billion, a PE ratio of 125.96, a price-to-earnings-growth ratio of 9.73 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. The company’s fifty day moving average price is $89.40 and its two-hundred day moving average price is $84.64. CoStar Group has a 52-week low of $67.35 and a 52-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 for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that CoStar Group will post 0.44 EPS for the current year.

Hedge Funds Weigh In On CoStar Group

Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in shares of CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after buying an additional 761,383 shares in the last quarter. Bamco Inc. NY grew its stake in shares of CoStar Group by 0.5% in the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock valued at $1,476,019,000 after buying an additional 91,399 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of CoStar Group by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after buying an additional 596,595 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of CoStar Group by 6.1% in the third quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock valued at $428,256,000 after buying an additional 319,960 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of CoStar Group by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock valued at $425,056,000 after buying an additional 218,094 shares in the last quarter. 96.60% of the stock is owned by 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.