BMO Capital Markets Boosts CoStar Group (NASDAQ:CSGP) Price Target to $88.00

CoStar Group (NASDAQ:CSGP) had its price target boosted by equities research analysts at BMO Capital Markets from $84.00 to $88.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 2.40% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Keefe, Bruyette & Woods lifted 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. Stephens reaffirmed an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a research report on Wednesday. Needham & Company LLC raised their price objective on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Price Performance

Shares of CSGP traded down $1.79 during mid-day trading on Thursday, hitting $90.16. 952,016 shares of the company traded hands, compared to its average volume of 2,177,610. 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 business has a 50-day moving average of $89.40 and a 200 day moving average of $84.64. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 123.71, a PEG ratio of 9.73 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a return on equity of 4.97% and a net margin of 11.64%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities analysts expect that CoStar Group will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in CoStar Group in the 4th quarter worth about $406,934,000. Capital International Investors grew its position in shares of CoStar Group by 32.2% during the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after acquiring an additional 982,837 shares during the period. Capital Research Global Investors grew its position in shares of CoStar Group by 49.2% during the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after purchasing an additional 796,386 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of CoStar Group by 4.0% during the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after buying an additional 761,383 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after purchasing an additional 731,375 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Company Profile

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.