CoStar Group (NASDAQ:CSGP) PT Lowered to $90.00

CoStar Group (NASDAQ:CSGP) had its price objective cut by equities research analysts at Citigroup from $97.00 to $90.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 23.75% from the company’s current price.

CSGP has been the topic of several other reports. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $96.00 to $83.00 in a report on Wednesday. Bank of America reduced their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. BMO Capital Markets decreased their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group lowered their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.62.

CoStar Group Trading Down 0.1 %

Shares of CSGP traded down $0.09 during midday trading on Thursday, hitting $72.73. 185,518 shares of the stock were exchanged, compared to its average volume of 2,302,354. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a fifty day simple moving average of $76.46 and a 200 day simple moving average of $79.20. The firm has a market cap of $29.70 billion, a P/E ratio of 99.63 and a beta of 0.81. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 10.9% on a year-over-year basis. On average, research analysts anticipate that CoStar Group will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of CoStar Group by 60.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after acquiring an additional 6,386 shares during the period. Forsta AP Fonden raised its stake in shares of CoStar Group by 9.0% during the 3rd quarter. Forsta AP Fonden now owns 82,000 shares of the technology company’s stock valued at $6,186,000 after purchasing an additional 6,800 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CoStar Group by 7.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,898 shares of the technology company’s stock worth $9,369,000 after purchasing an additional 8,698 shares in the last quarter. Mediolanum International Funds Ltd boosted its stake in CoStar Group by 14.9% in the 3rd quarter. Mediolanum International Funds Ltd now owns 161,913 shares of the technology company’s stock worth $12,125,000 after purchasing an additional 20,942 shares during the period. Finally, Lake Street Advisors Group LLC grew its holdings in CoStar Group by 10.2% during the 3rd quarter. Lake Street Advisors Group LLC now owns 6,085 shares of the technology company’s stock valued at $459,000 after buying an additional 562 shares in the last quarter. 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.