JPMorgan Chase & Co. Boosts CoStar Group (NASDAQ:CSGP) Price Target to $108.00

CoStar Group (NASDAQ:CSGP) had its target price lifted by JPMorgan Chase & Co. from $102.00 to $108.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $109.00 to $100.00 and set an outperform rating on the stock in a report on Wednesday, July 17th. Needham & Company LLC restated a buy rating and set a $107.00 price objective on shares of CoStar Group in a research report on Wednesday, July 24th. Stephens reaffirmed an overweight rating and issued a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. William Blair reissued an outperform rating on shares of CoStar Group in a report on Wednesday, April 24th. Finally, Bank of America dropped their price objective on CoStar Group from $111.00 to $89.00 and set a buy rating for the company in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $96.38.

CoStar Group Trading Up 0.0 %

Shares of CSGP stock opened at $73.95 on Monday. The stock has a market cap of $30.31 billion, a P/E ratio of 101.30, a price-to-earnings-growth ratio of 11.18 and a beta of 0.81. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $75.21 and a 200 day simple moving average of $83.56.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that CoStar Group will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of 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 during the last quarter. International Assets Investment Management LLC bought a new stake in shares of CoStar Group in the 4th quarter valued at about $3,230,000. DekaBank Deutsche Girozentrale raised its position in shares of CoStar Group by 3.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 99,924 shares of the technology company’s stock worth $8,721,000 after acquiring an additional 2,921 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of CoStar Group by 5.7% in the fourth quarter. Bleakley Financial Group LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after acquiring an additional 431 shares during the period. Finally, JLP Asset Management LLC bought a new stake in CoStar Group in the fourth quarter valued at approximately $3,359,000. 96.60% of the stock is owned by institutional investors.

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.