JPMorgan Chase & Co. Boosts CoStar Group (NASDAQ:CSGP) Price Target to $101.00

CoStar Group (NASDAQ:CSGP - Get Free Report) had its target price raised by JPMorgan Chase & Co. from $87.00 to $101.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 8.65% from the stock's current price.

A number of other analysts have also weighed in on the company. Needham & Company LLC increased their target price on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their price objective on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Royal Bank Of Canada boosted their price objective on shares of CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research report on Wednesday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and a consensus price target of $93.23.

CoStar Group Trading Up 2.2%

NASDAQ:CSGP traded up $1.96 during mid-day trading on Wednesday, hitting $92.96. 4,432,108 shares of the stock traded hands, compared to its average volume of 2,634,441. The company has a quick ratio of 6.01, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group has a 52 week low of $68.26 and a 52 week high of $93.75. The stock has a market capitalization of $39.22 billion, a price-to-earnings ratio of 371.84, a PEG ratio of 4.58 and a beta of 0.89. The firm's 50 day moving average is $80.44 and its two-hundred day moving average is $78.00.

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

Hedge Funds Weigh In On CoStar Group

A number of large investors have recently made changes to their positions in CSGP. Wayfinding Financial LLC purchased a new position in shares of CoStar Group in the 1st quarter valued at approximately $29,000. Bayforest Capital Ltd acquired a new position in CoStar Group during the 1st quarter valued at approximately $29,000. GKV Capital Management Co. Inc. acquired a new position in CoStar Group during the 1st quarter valued at approximately $31,000. Zions Bancorporation National Association UT purchased a new position in shares of CoStar Group in the first quarter worth $31,000. Finally, Cullen Frost Bankers Inc. lifted its stake 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 worth $32,000 after buying an additional 235 shares during the period. 96.60% of the stock is 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.