CoStar Group’s (CSGP) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a research report sent to investors on Friday, Benzinga reports. They currently have a $110.00 price objective on the technology company’s stock.

A number of other analysts have also recently weighed in on CSGP. Bank of America raised 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. Needham & Company LLC lowered their price objective on CoStar Group from $105.00 to $90.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Robert W. Baird boosted their target price on CoStar Group from $90.00 to $105.00 and gave the stock an outperform rating in a research note on Monday, March 18th. Citigroup increased their price objective 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CoStar Group from $96.00 to $109.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $100.08.

CoStar Group Price Performance

CSGP opened at $87.53 on Friday. 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 company has a market capitalization of $35.75 billion, a price-to-earnings ratio of 95.14, a PEG ratio of 10.38 and a beta of 0.84. The business’s fifty day simple moving average is $88.97 and its 200-day simple moving average is $84.27. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38.

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

Institutional Trading of CoStar Group

A number of hedge funds have recently added to or reduced their stakes in CSGP. Riverview Trust Co acquired a new position in shares of CoStar Group in the first quarter worth about $35,000. CHICAGO TRUST Co NA raised its holdings in CoStar Group by 3.5% in the 1st quarter. CHICAGO TRUST Co NA now owns 13,810 shares of the technology company’s stock worth $1,334,000 after purchasing an additional 465 shares during the period. Gulf International Bank UK Ltd boosted its position in CoStar Group by 0.8% during the first quarter. Gulf International Bank UK Ltd now owns 33,743 shares of the technology company’s stock worth $3,259,000 after purchasing an additional 271 shares in the last quarter. Meyer Handelman Co. acquired a new stake in CoStar Group in the first quarter valued at approximately $266,000. Finally, First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of CoStar Group in the first quarter valued at approximately $1,626,000. 96.60% of the stock is 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.