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

CoStar Group (NASDAQ:CSGP) had its target price raised by Needham & Company LLC from $90.00 to $107.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Citigroup lifted their price target 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. Jefferies Financial Group increased their target price on CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a research report on Friday, April 12th. Royal Bank of Canada lifted their price target on CoStar Group from $95.00 to $109.00 and gave the stock an outperform rating in a report on Monday, March 25th. BTIG Research began coverage on CoStar Group in a research report on Friday, January 19th. They set a neutral rating on the stock. Finally, JMP Securities reaffirmed a market outperform rating and set a $110.00 price objective on shares of CoStar Group in a research report on Friday, April 12th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has an average rating of Moderate Buy and an average price target of $102.15.

CoStar Group Price Performance

NASDAQ CSGP opened at $91.95 on Wednesday. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $89.40 and its two-hundred day moving average is $84.64. The stock has a market cap of $37.55 billion, a price-to-earnings ratio of 125.96, a PEG ratio of 9.73 and a beta of 0.84. CoStar Group has a 12 month low of $67.35 and a 12 month high of $100.38.

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

Institutional Trading of CoStar Group

Hedge funds have recently modified their holdings of the stock. Krilogy Financial LLC boosted its holdings in CoStar Group by 6.6% in the 1st quarter. Krilogy Financial LLC now owns 13,813 shares of the technology company’s stock valued at $1,334,000 after purchasing an additional 858 shares in the last quarter. Simplicity Wealth LLC acquired a new position in CoStar Group in the 1st quarter worth $824,000. Venturi Wealth Management LLC increased its position in shares of CoStar Group by 10.5% in the 1st quarter. Venturi Wealth Management LLC now owns 3,837 shares of the technology company’s stock worth $371,000 after purchasing an additional 364 shares during the last quarter. Fifth Third Bancorp grew its position in shares of CoStar Group by 5.2% during the 1st quarter. Fifth Third Bancorp now owns 7,780 shares of the technology company’s stock valued at $752,000 after buying an additional 385 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new position in CoStar Group in the 1st quarter worth about $338,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.