CoStar Group (NASDAQ:CSGP) PT Lowered to $90.00

CoStar Group (NASDAQ:CSGP) had its price objective reduced by equities research analysts at Citigroup from $97.00 to $90.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 20.84% from the company’s current price.

A number of other research firms have also recently commented on CSGP. The Goldman Sachs Group decreased their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday. Robert W. Baird cut their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Bank of America lowered their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, BMO Capital Markets cut their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Up 0.8 %

Shares of CoStar Group stock opened at $74.48 on Thursday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $30.52 billion, a P/E ratio of 169.28 and a beta of 0.81. The firm’s 50 day moving average price is $76.45 and its 200-day moving average price is $79.16. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38.

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

Institutional Trading of CoStar Group

Several hedge funds and other institutional investors have recently bought and sold shares of CSGP. Wealth Enhancement Advisory Services LLC boosted its position in CoStar Group by 25.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock worth $1,451,000 after purchasing an additional 3,008 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in CoStar Group during the first quarter valued at $228,000. Atlantic Union Bankshares Corp grew its position in CoStar Group by 10.3% during the first quarter. Atlantic Union Bankshares Corp now owns 19,423 shares of the technology company’s stock valued at $1,876,000 after buying an additional 1,817 shares during the period. WoodTrust Financial Corp increased its holdings in CoStar Group by 14.9% in the first quarter. WoodTrust Financial Corp now owns 15,400 shares of the technology company’s stock valued at $1,487,000 after buying an additional 2,000 shares in the last quarter. Finally, First Bank & Trust raised its position in shares of CoStar Group by 5.7% in the first quarter. First Bank & Trust now owns 22,024 shares of the technology company’s stock worth $2,128,000 after acquiring an additional 1,186 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

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.