Needham & Company LLC Raises CoStar Group (NASDAQ:CSGP) Price Target to $107.00

CoStar Group (NASDAQ:CSGP) had its price target increased by Needham & Company LLC from $90.00 to $107.00 in a research report report published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of CoStar Group from $95.00 to $109.00 and gave the company an outperform rating in a research report on Monday, March 25th. Robert W. Baird increased their price target on shares of CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a research report on Monday, March 18th. JMP Securities reiterated a market outperform rating and issued a $110.00 price target on shares of CoStar Group in a research report on Friday, April 12th. BMO Capital Markets raised their target price on shares of CoStar Group from $79.00 to $84.00 and gave the stock a market perform rating in a report on Friday, April 19th. Finally, Citigroup raised their target price on shares of CoStar Group from $90.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $102.46.

CoStar Group Stock Up 2.6 %

Shares of NASDAQ CSGP opened at $92.65 on Wednesday. The firm has a market capitalization of $37.83 billion, a PE ratio of 126.92, a price-to-earnings-growth ratio of 10.59 and a beta of 0.84. The firm’s 50-day moving average is $89.77 and its 200-day moving average is $84.76. The company has a current ratio of 9.09, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. CoStar Group’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Equities analysts expect that CoStar Group will post 0.43 EPS for the current year.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in shares of CoStar Group by 9.2% in the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after purchasing an additional 113 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of CoStar Group by 3.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock valued at $320,000 after purchasing an additional 121 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of CoStar Group by 4.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,775 shares of the technology company’s stock valued at $243,000 after purchasing an additional 123 shares during the last quarter. KB Financial Partners LLC raised its holdings in shares of CoStar Group by 17.9% in the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after purchasing an additional 124 shares during the last quarter. Finally, Wealth Alliance raised its holdings in shares of CoStar Group by 3.0% in the fourth quarter. Wealth Alliance now owns 4,539 shares of the technology company’s stock valued at $397,000 after purchasing an additional 132 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.