BMO Capital Markets Raises CoStar Group (NASDAQ:CSGP) Price Target to $84.00

CoStar Group (NASDAQ:CSGP) had its price target lifted by BMO Capital Markets from $79.00 to $84.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a market perform rating on the technology company’s stock.

CSGP has been the topic of several other research reports. Bank of America upped their price target on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a report on Monday, March 18th. Citigroup upped their price objective 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. Jefferies Financial Group upped their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a research note on Friday, April 12th. The Goldman Sachs Group upped their price objective 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $96.00 to $109.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $100.50.

CoStar Group Trading Up 0.1 %

Shares of CSGP opened at $84.26 on Friday. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. The firm has a market capitalization of $34.41 billion, a P/E ratio of 91.59, a PEG ratio of 9.69 and a beta of 0.84. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average is $89.10 and its two-hundred day moving average is $84.52.

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

Hedge Funds Weigh In On CoStar Group

A number of large investors have recently bought and sold shares of the stock. Deutsche Bank AG increased its position in shares of CoStar Group by 37.1% in the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after acquiring an additional 200,183 shares in the last quarter. Simplicity Solutions LLC increased its position in shares of CoStar Group by 5.7% in the fourth quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after acquiring an additional 431 shares in the last quarter. Wellington Management Group LLP increased its position in shares of CoStar Group by 22.7% in the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock worth $275,308,000 after acquiring an additional 662,592 shares in the last quarter. LPL Financial LLC increased its position in shares of CoStar Group by 16.8% in the third quarter. LPL Financial LLC now owns 86,580 shares of the technology company’s stock worth $6,657,000 after acquiring an additional 12,422 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of CoStar Group by 6.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,559 shares of the technology company’s stock worth $351,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors 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.