BMO Capital Markets Issues Positive Forecast for CoStar Group (NASDAQ:CSGP) Stock Price

CoStar Group (NASDAQ:CSGP - Get Free Report) had its price target lifted by BMO Capital Markets from $82.00 to $89.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "market perform" rating on the technology company's stock. BMO Capital Markets' price objective suggests a potential downside of 3.74% from the stock's current price.

CSGP has been the subject of several other reports. Needham & Company LLC increased their target price on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday. JMP Securities reissued a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a research report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price target on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America assumed coverage on shares of CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 target price for the company. Finally, Royal Bank Of Canada increased their target price on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.25.

CoStar Group Price Performance

Shares of CSGP traded down $0.50 during midday trading on Wednesday, reaching $92.46. The stock had a trading volume of 674,653 shares, compared to its average volume of 3,202,063. The company's 50-day moving average is $80.44 and its 200 day moving average is $78.00. CoStar Group has a 12-month low of $68.26 and a 12-month high of $93.75. The company has a current ratio of 5.83, a quick ratio of 6.01 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $39.01 billion, a price-to-earnings ratio of 369.84, a price-to-earnings-growth ratio of 4.58 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The business had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. CoStar Group's revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts predict that CoStar Group will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSGP. Wayfinding Financial LLC purchased a new position in CoStar Group during the first quarter valued at $29,000. Bayforest Capital Ltd purchased a new position in CoStar Group during the 1st quarter valued at about $29,000. GKV Capital Management Co. Inc. purchased a new position in CoStar Group during the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT purchased a new position in shares of CoStar Group during the first quarter valued at approximately $31,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

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.