CoStar Group (NASDAQ:CSGP) PT Lowered to $90.00

CoStar Group (NASDAQ:CSGP) had its price target reduced by JMP Securities from $110.00 to $90.00 in a research note published on Wednesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

CSGP has been the subject of a number of other reports. Jefferies Financial Group lifted their price target on CoStar Group from $85.00 to $95.00 and gave the company a hold rating in a report on Friday, April 12th. Bank of America cut their price target on CoStar Group from $111.00 to $89.00 and set a buy rating for the company in a report on Monday, July 22nd. BMO Capital Markets lifted their price target on CoStar Group from $84.00 to $88.00 and gave the company a market perform rating in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed an outperform rating and issued a $109.00 price target on shares of CoStar Group in a report on Friday, June 7th. Finally, Stephens reaffirmed an overweight rating and issued a $105.00 price target on shares of CoStar Group in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $96.08.

CoStar Group Stock Up 0.9 %

Shares of NASDAQ CSGP opened at $78.51 on Wednesday. The stock has a market cap of $32.06 billion, a PE ratio of 107.55, a PEG ratio of 11.48 and a beta of 0.81. The business has a fifty day moving average of $76.81 and a two-hundred day moving average of $83.99. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.27.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. As a group, equities research analysts expect that CoStar Group will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

Institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its position in shares of CoStar Group by 1,393.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,189 shares of the technology company’s stock worth $1,065,000 after buying an additional 11,373 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of CoStar Group by 11.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after buying an additional 376 shares during the period. Simplicity Solutions LLC grew its position in shares of CoStar Group by 5.7% during the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after buying an additional 431 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of CoStar Group by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after buying an additional 17,658 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of CoStar Group by 390.8% during the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after buying an additional 79,467 shares during the period. 96.60% of the stock is currently 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.