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

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

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group raised their target price on CoStar Group from $85.00 to $95.00 and gave the stock a hold rating in a research report on Friday, April 12th. Needham & Company LLC cut their target price on CoStar Group from $105.00 to $90.00 and set a buy rating on the stock in a research report on Wednesday, February 21st. Robert W. Baird lifted their price target on CoStar Group from $90.00 to $105.00 and gave the stock an outperform rating in a research report on Monday, March 18th. The Goldman Sachs Group lifted their price target on CoStar Group from $96.00 to $107.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Finally, BTIG Research began coverage on CoStar Group in a research report on Friday, January 19th. They set a neutral rating on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group presently has an average rating of Moderate Buy and a consensus target price of $100.50.

CoStar Group Stock Performance

Shares of CSGP opened at $84.26 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. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The stock has a market capitalization of $34.41 billion, a PE ratio of 91.59, a PEG ratio of 9.68 and a beta of 0.84. The stock has a 50-day simple moving average of $89.10 and a 200-day simple moving average of $84.40.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $634.27 million. During the same quarter last year, the company earned $0.35 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that CoStar Group will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of CoStar Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company’s stock valued at $2,315,223,000 after buying an additional 204,955 shares in the last quarter. BlackRock Inc. boosted its stake in shares of CoStar Group by 0.9% in the first quarter. BlackRock Inc. now owns 31,917,467 shares of the technology company’s stock valued at $2,197,518,000 after buying an additional 286,782 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of CoStar Group by 4.0% in 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 in the last quarter. Bamco Inc. NY boosted its stake in shares of CoStar Group by 0.5% in the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock valued at $1,476,019,000 after buying an additional 91,399 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of CoStar Group by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after buying an additional 596,595 shares in the last quarter. Institutional investors and hedge funds 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.