CoStar Group (NASDAQ:CSGP) Price Target Cut to $99.00 by Analysts at JPMorgan Chase & Co.

CoStar Group (NASDAQ:CSGP) had its price target lowered by JPMorgan Chase & Co. from $108.00 to $99.00 in a research note released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group cut their target price 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. Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $96.00 to $83.00 in a research note on Wednesday. Finally, Robert W. Baird dropped their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.15.

CoStar Group Stock Down 5.3 %

CSGP stock opened at $72.82 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company has a market capitalization of $29.74 billion, a price-to-earnings ratio of 99.75 and a beta of 0.81. CoStar Group has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The stock has a fifty day moving average of $76.46 and a 200-day moving average of $79.20.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts predict that CoStar Group will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On CoStar Group

A number of large investors have recently modified their holdings of CSGP. Crewe Advisors LLC purchased a new position in shares of CoStar Group during the 1st quarter valued at about $31,000. Riverview Trust Co purchased a new position in shares of CoStar Group during the 1st quarter valued at about $35,000. RiverPark Advisors LLC purchased a new position in shares of CoStar Group during the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group during the 2nd quarter valued at about $49,000. Finally, Quarry LP purchased a new position in shares of CoStar Group during the 2nd quarter valued at about $54,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.