BMO Capital Markets Lowers CoStar Group (NASDAQ:CSGP) Price Target to $75.00

CoStar Group (NASDAQ:CSGP) had its price objective cut by BMO Capital Markets from $78.00 to $75.00 in a report issued on Thursday morning, Benzinga reports. They currently have a market perform rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird decreased their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Bank of America reduced their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Trading Up 0.8 %

Shares of CoStar Group stock opened at $74.48 on Thursday. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. 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’s 50-day simple moving average is $76.46 and its 200-day simple moving average is $78.82. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 102.03 and a beta of 0.81.

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

Hedge Funds Weigh In On CoStar Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of CoStar Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after buying an additional 541,700 shares during the period. Janus Henderson Group PLC increased its position in CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp increased its position in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after purchasing an additional 124,761 shares during the last quarter. Blair William & Co. IL increased its position in CoStar Group by 0.6% during the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after purchasing an additional 26,800 shares during the last quarter. Finally, Vulcan Value Partners LLC increased its position in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

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.