BMO Capital Markets Lowers CoStar Group (NASDAQ:CSGP) Price Target to $75.00

CoStar Group (NASDAQ:CSGP) had its price objective cut by BMO Capital Markets from $78.00 to $75.00 in a report released on Thursday, Benzinga reports. They currently have a market perform rating on the technology company’s stock.

CSGP has been the subject of a number of other research reports. Robert W. Baird cut their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Needham & Company LLC cut their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group cut their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

CSGP opened at $74.48 on Thursday. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a market capitalization of $30.52 billion, a P/E ratio of 169.28 and a beta of 0.81. The stock’s 50 day moving average price is $76.46 and its two-hundred day moving average price is $78.91. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. CoStar Group’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. On average, equities analysts forecast that CoStar Group will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On CoStar Group

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. Crewe Advisors LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth about $31,000. RiverPark Advisors LLC bought a new stake in CoStar Group during the first quarter worth about $37,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of CoStar Group during the second quarter worth approximately $49,000. Covestor Ltd raised its stake in shares of CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after acquiring an additional 211 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.