CoStar Group (NASDAQ:CSGP) Given New $97.00 Price Target at Citigroup

CoStar Group (NASDAQ:CSGPFree Report) had its target price upped by Citigroup from $90.00 to $97.00 in a report released on Wednesday morning, Briefing.com reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also commented on CSGP. BMO Capital Markets raised their price target on CoStar Group from $74.00 to $84.00 and gave the stock a market perform rating in a research note on Wednesday, December 13th. The Goldman Sachs Group reaffirmed a buy rating and issued a $98.00 price target on shares of CoStar Group in a research note on Monday, December 18th. JPMorgan Chase & Co. dropped their price target on CoStar Group from $114.00 to $104.00 and set an overweight rating for the company in a research note on Wednesday, October 25th. Needham & Company LLC raised their price target on CoStar Group from $80.00 to $105.00 and gave the stock a buy rating in a research note on Monday, December 18th. Finally, BTIG Research started coverage on CoStar Group in a report on Friday, January 19th. They issued a neutral rating for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $94.82.

Check Out Our Latest Report on CSGP

CoStar Group Stock Performance

NASDAQ:CSGP opened at $85.13 on Wednesday. The firm has a market cap of $34.76 billion, a PE ratio of 85.99, a price-to-earnings-growth ratio of 3.74 and a beta of 0.85. CoStar Group has a fifty-two week low of $65.12 and a fifty-two week high of $92.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.31 and a current ratio of 13.31. The business has a 50 day moving average price of $84.63 and a 200-day moving average price of $81.56.

Insider Activity

In other news, Director John W. Hill sold 3,020 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $84.07, for a total transaction of $253,891.40. Following the completion of the transaction, the director now directly owns 17,870 shares in the company, valued at $1,502,330.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently bought and sold shares of CSGP. Raymond James Financial Services Advisors Inc. increased its holdings in CoStar Group by 111.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,683 shares of the technology company’s stock worth $1,045,000 after buying an additional 8,253 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in CoStar Group by 504.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,874 shares of the technology company’s stock worth $125,000 after purchasing an additional 1,564 shares during the last quarter. MetLife Investment Management LLC purchased a new position in CoStar Group in the first quarter worth about $1,427,000. Panagora Asset Management Inc. boosted its position in CoStar Group by 10.6% in the first quarter. Panagora Asset Management Inc. now owns 12,007 shares of the technology company’s stock worth $800,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its position in CoStar Group by 32.3% in the first quarter. Raymond James Trust N.A. now owns 5,884 shares of the technology company’s stock worth $392,000 after purchasing an additional 1,435 shares during the last quarter. 96.53% of the stock is currently owned by institutional investors.

About CoStar Group

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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.

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