CoStar Group (NASDAQ:CSGP) Price Target Cut to $100.00

CoStar Group (NASDAQ:CSGP) had its price target dropped by investment analysts at Needham & Company LLC from $107.00 to $100.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 35.30% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Robert W. Baird reduced their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group cut their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America cut their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. Finally, StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.62.

CoStar Group Trading Up 1.5 %

Shares of CoStar Group stock opened at $73.91 on Wednesday. The firm has a market cap of $30.29 billion, a price-to-earnings ratio of 167.98 and a beta of 0.81. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. The business has a 50-day moving average price of $76.46 and a 200-day moving average price of $79.20. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. Equities research analysts anticipate that CoStar Group will post 0.49 EPS for the current fiscal year.

Institutional Trading of CoStar Group

Institutional investors have recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC increased its stake in CoStar Group by 27.7% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 6,553 shares of the technology company’s stock valued at $494,000 after buying an additional 1,420 shares during the period. KP Management LLC raised its position in CoStar Group by 84.4% during the third quarter. KP Management LLC now owns 41,500 shares of the technology company’s stock valued at $3,131,000 after acquiring an additional 19,000 shares in the last quarter. Mattern Capital Management LLC boosted its stake in shares of CoStar Group by 25.1% during the 3rd quarter. Mattern Capital Management LLC now owns 7,690 shares of the technology company’s stock worth $580,000 after acquiring an additional 1,541 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in CoStar Group by 60.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after acquiring an additional 6,386 shares during the period. Finally, Forsta AP Fonden lifted its holdings in shares of CoStar Group by 9.0% during the third quarter. Forsta AP Fonden now owns 82,000 shares of the technology company’s stock worth $6,186,000 after buying an additional 6,800 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

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.