CoStar Group (NASDAQ:CSGP) Price Target Lowered to $75.00 at BMO Capital Markets

CoStar Group (NASDAQ:CSGP) had its target price reduced by BMO Capital Markets from $78.00 to $75.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a market perform rating on the technology company’s stock.

Several other research firms have also issued reports on CSGP. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a report on Wednesday. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Robert W. Baird lowered their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.62.

CoStar Group Stock Performance

NASDAQ:CSGP traded up $0.73 during mid-day trading on Thursday, hitting $74.64. 9,716 shares of the stock were exchanged, compared to its average volume of 2,328,509. 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 firm’s 50-day simple moving average is $76.46 and its 200 day simple moving average is $79.20. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market capitalization of $30.59 billion, a price-to-earnings ratio of 167.98 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. As a group, equities 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 CSGP. Wealth Enhancement Advisory Services LLC raised its holdings in shares of CoStar Group by 25.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock valued at $1,451,000 after purchasing an additional 3,008 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in CoStar Group during the 1st quarter valued at $228,000. Atlantic Union Bankshares Corp lifted its holdings in CoStar Group by 10.3% in the first quarter. Atlantic Union Bankshares Corp now owns 19,423 shares of the technology company’s stock valued at $1,876,000 after acquiring an additional 1,817 shares during the period. WoodTrust Financial Corp lifted its stake in shares of CoStar Group by 14.9% in the 1st quarter. WoodTrust Financial Corp now owns 15,400 shares of the technology company’s stock worth $1,487,000 after purchasing an additional 2,000 shares during the period. Finally, First Bank & Trust increased its stake in shares of CoStar Group by 5.7% in the 1st quarter. First Bank & Trust now owns 22,024 shares of the technology company’s stock worth $2,128,000 after purchasing an additional 1,186 shares in the last quarter. Hedge funds and other 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.