CoStar Group (NASDAQ:CSGP) Stock Price Expected to Rise, Citigroup Analyst Says

CoStar Group (NASDAQ:CSGP - Get Free Report) had its price target boosted by equities research analysts at Citigroup from $91.00 to $100.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Citigroup's target price suggests a potential upside of 7.11% from the company's previous close.

A number of other equities analysts have also commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Needham & Company LLC boosted their target price on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday. Bank of America assumed coverage on CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.23.

CoStar Group Stock Up 2.6%

Shares of CoStar Group stock traded up $2.37 during midday trading on Thursday, hitting $93.37. The company's stock had a trading volume of 1,859,706 shares, compared to its average volume of 3,201,402. The firm has a market capitalization of $39.39 billion, a P/E ratio of 373.25, a PEG ratio of 4.29 and a beta of 0.89. The stock has a 50-day simple moving average of $80.10 and a 200-day simple moving average of $77.85. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.12. CoStar Group has a 1-year low of $68.26 and a 1-year high of $93.32.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The firm 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 2.94% and a net margin of 3.57%. The business's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, sell-side analysts expect that CoStar Group will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On CoStar Group

A number of hedge funds have recently modified their holdings of CSGP. Proficio Capital Partners LLC raised its holdings in shares of CoStar Group by 15.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,192 shares of the technology company's stock valued at $300,000 after purchasing an additional 573 shares during the period. Teacher Retirement System of Texas grew its position in shares of CoStar Group by 40.2% during the 4th quarter. Teacher Retirement System of Texas now owns 3,836 shares of the technology company's stock valued at $275,000 after acquiring an additional 1,100 shares during the period. American Century Companies Inc. boosted its holdings in CoStar Group by 3.4% in the 4th quarter. American Century Companies Inc. now owns 61,350 shares of the technology company's stock worth $4,392,000 after buying an additional 2,041 shares during the period. LPL Financial LLC boosted its holdings in CoStar Group by 214.5% in the 4th quarter. LPL Financial LLC now owns 432,769 shares of the technology company's stock worth $30,982,000 after buying an additional 295,163 shares during the period. Finally, EntryPoint Capital LLC bought a new position in CoStar Group in the 4th quarter worth approximately $327,000. 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.

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