CoStar Group (NASDAQ:CSGP) Given New $84.00 Price Target at BMO Capital Markets

CoStar Group (NASDAQ:CSGP) had its target price increased by BMO Capital Markets from $79.00 to $84.00 in a report published on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the technology company’s stock.

Several other analysts have also recently issued reports on CSGP. Robert W. Baird upped their price objective on CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a research note on Monday, March 18th. JMP Securities restated a market outperform rating and set a $110.00 price target on shares of CoStar Group in a research report on Friday, April 12th. Bank of America boosted their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. BTIG Research began coverage on CoStar Group in a report on Friday, January 19th. They set a neutral rating on the stock. Finally, Needham & Company LLC reduced their price target on shares of CoStar Group from $105.00 to $90.00 and set a buy rating for the company in a research note on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $100.50.

CoStar Group Stock Performance

Shares of CSGP stock opened at $85.31 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The firm has a market capitalization of $34.84 billion, a price-to-earnings ratio of 92.73, a price-to-earnings-growth ratio of 9.69 and a beta of 0.84. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The company has a 50 day moving average price of $89.15 and a 200 day moving average price of $84.56.

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

Hedge Funds Weigh In On CoStar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Blue Trust Inc. boosted its holdings in CoStar Group by 125.4% in the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Riverview Trust Co bought a new stake in CoStar Group in the 1st quarter valued at $35,000. Pinnacle Bancorp Inc. bought a new stake in CoStar Group in the 4th quarter valued at $37,000. Connectus Wealth LLC lifted its holdings in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after purchasing an additional 467,534 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in CoStar Group during the fourth quarter worth $60,000. 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.