CoStar Group (NASDAQ:CSGP) Given New $107.00 Price Target at Needham & Company LLC

CoStar Group (NASDAQ:CSGP) had its price target boosted by equities research analysts at Needham & Company LLC from $90.00 to $107.00 in a research report issued to clients and 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 indicate a potential upside of 26.45% from the company’s previous close.

A number of other research firms also recently weighed in on CSGP. 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 report on Monday, March 18th. The Goldman Sachs Group lifted their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Robert W. Baird lifted their target price on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. BMO Capital Markets lifted their target price on shares of CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. Finally, Citigroup lifted their target price on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.92.

CoStar Group Stock Down 0.8 %

CSGP stock opened at $84.62 on Wednesday. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $89.21 and its 200 day simple moving average is $84.59. The company has a market cap of $34.56 billion, a PE ratio of 91.98, a price-to-earnings-growth ratio of 9.81 and a beta of 0.84. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, research analysts anticipate that CoStar Group will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CSGP. CWM LLC lifted its stake in shares of CoStar Group by 8.7% in the 3rd quarter. CWM LLC now owns 4,735 shares of the technology company’s stock valued at $364,000 after purchasing an additional 377 shares during the period. DAVENPORT & Co LLC increased its position in shares of CoStar Group by 13.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 69,520 shares of the technology company’s stock valued at $5,345,000 after buying an additional 8,365 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of CoStar Group by 80.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 13,453 shares of the technology company’s stock valued at $1,034,000 after buying an additional 5,997 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of CoStar Group in the 3rd quarter valued at $1,019,000. Finally, Czech National Bank increased its position in shares of CoStar Group by 47.6% in the 3rd quarter. Czech National Bank now owns 71,369 shares of the technology company’s stock valued at $5,488,000 after buying an additional 23,007 shares in the last quarter. Institutional investors and hedge funds 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.