BMO Capital Markets Boosts CoStar Group (NASDAQ:CSGP) Price Target to $88.00

CoStar Group (NASDAQ:CSGP) had its price objective raised by BMO Capital Markets from $84.00 to $88.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price indicates a potential downside of 5.02% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Stephens reissued an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a report on Friday, April 12th. BTIG Research assumed coverage on CoStar Group in a report on Friday, January 19th. They issued a “neutral” rating for the company. Finally, The Goldman Sachs Group increased their target price on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.46.

CoStar Group Price Performance

Shares of CSGP stock opened at $92.65 on Thursday. The stock has a 50 day moving average of $89.77 and a two-hundred day moving average of $84.76. The company has a current ratio of 9.09, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. CoStar Group has a 12 month low of $67.35 and a 12 month high of $100.38. The company has a market capitalization of $37.83 billion, a P/E ratio of 126.92, a P/E/G ratio of 10.59 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same quarter last year, the company earned $0.35 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts expect that CoStar Group will post 0.43 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CSGP. CWM LLC boosted its position in 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 buying an additional 377 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in 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 during the last quarter. Oak Thistle LLC bought a new position in CoStar Group in the 3rd quarter valued at $1,019,000. Czech National Bank boosted its position in 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 during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in CoStar Group by 0.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 267,815 shares of the technology company’s stock valued at $20,592,000 after buying an additional 2,479 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

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.