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

CoStar Group (NASDAQ:CSGP) had its price objective boosted by stock analysts at Needham & Company LLC from $90.00 to $107.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 18.44% from the stock’s previous close.

CSGP has been the topic of several other reports. BTIG Research assumed coverage on CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating on the stock. 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. Bank of America lifted their price objective on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. The Goldman Sachs Group boosted their price target on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Robert W. Baird boosted their price target on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Stock Down 1.8 %

NASDAQ CSGP opened at $90.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 12.01. The stock has a market capitalization of $36.90 billion, a PE ratio of 123.75, a PEG ratio of 10.57 and a beta of 0.84. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The business’s 50-day moving average is $89.55 and its 200 day moving average is $84.68.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Sell-side analysts forecast that CoStar Group will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On CoStar Group

A number of hedge funds have recently added to or reduced their stakes in CSGP. Lindbrook Capital LLC raised its stake in CoStar Group by 9.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after buying an additional 113 shares during the last quarter. Equitable Trust Co. purchased a new stake in CoStar Group during the 1st quarter valued at $4,425,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CoStar Group by 7.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 131,633 shares of the technology company’s stock valued at $12,716,000 after buying an additional 8,905 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in CoStar Group by 10.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,070 shares of the technology company’s stock valued at $5,706,000 after buying an additional 5,600 shares during the last quarter. Finally, Krilogy Financial LLC raised its stake in CoStar Group by 6.6% during the 1st quarter. Krilogy Financial LLC now owns 13,813 shares of the technology company’s stock valued at $1,334,000 after buying an additional 858 shares during the last quarter. 96.60% of the stock is currently 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.