Royal Bank Of Canada Forecasts Strong Price Appreciation for CoStar Group (NASDAQ:CSGP) Stock

CoStar Group (NASDAQ:CSGP - Free Report) had its price target lifted by Royal Bank Of Canada from $83.00 to $91.00 in a report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the technology company's stock.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company reissued an "underweight" rating and set a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Needham & Company LLC boosted their price objective on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday. Keefe, Bruyette & Woods upped their price objective on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Bank of America started coverage on CoStar Group in a research report on Friday, May 30th. They set a "neutral" rating and a $79.00 price objective for the company. Finally, Robert W. Baird raised their price target on CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Performance

CSGP stock traded up $0.01 during trading on Wednesday, hitting $92.97. 2,527,522 shares of the company traded hands, compared to its average volume of 2,730,692. The stock's 50-day simple moving average is $80.76 and its 200 day simple moving average is $78.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 6.01. The company has a market cap of $39.39 billion, a PE ratio of 371.88, a P/E/G ratio of 4.24 and a beta of 0.89. CoStar Group has a 1 year low of $68.26 and a 1 year high of $93.75.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yousif Capital Management LLC increased its position in shares of CoStar Group by 0.3% during the second quarter. Yousif Capital Management LLC now owns 49,852 shares of the technology company's stock worth $4,008,000 after acquiring an additional 130 shares during the last quarter. MGO One Seven LLC increased its holdings in CoStar Group by 5.0% in the second quarter. MGO One Seven LLC now owns 3,006 shares of the technology company's stock valued at $242,000 after buying an additional 143 shares during the last quarter. Colonial Trust Co SC increased its holdings in CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after buying an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP increased its holdings in CoStar Group by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock valued at $2,105,000 after buying an additional 146 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of CoStar Group by 5.4% during the second quarter. Fifth Third Wealth Advisors LLC now owns 3,183 shares of the technology company's stock valued at $256,000 after purchasing an additional 162 shares during 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.