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

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

CSGP has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their target price on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Royal Bank of Canada increased their target price on shares of CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Citigroup increased their target price on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. BTIG Research began coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.46.

CoStar Group Price Performance

Shares of CSGP opened at $90.34 on Wednesday. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38. The firm’s fifty day simple moving average is $89.55 and its 200-day simple moving average is $84.68. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 123.75, a PEG ratio of 10.57 and a beta of 0.84. 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 (NASDAQ:CSGP) last announced 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. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. During the same period last year, the business earned $0.35 EPS. The company’s revenue was up 11.7% on a year-over-year basis. Equities analysts forecast that CoStar Group will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in CoStar Group by 9.2% during the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock worth $129,000 after buying an additional 113 shares during the period. Equitable Trust Co. acquired a new position in shares of CoStar Group during the first quarter worth $4,425,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CoStar Group by 7.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 131,633 shares of the technology company’s stock worth $12,716,000 after purchasing an additional 8,905 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in CoStar Group by 10.5% in the first 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 acquiring an additional 5,600 shares in the last quarter. Finally, Krilogy Financial LLC raised its holdings in CoStar Group by 6.6% in the first quarter. Krilogy Financial LLC now owns 13,813 shares of the technology company’s stock valued at $1,334,000 after acquiring an additional 858 shares in 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.