CoStar Group (NASDAQ:CSGP) Given New $88.00 Price Target at BMO Capital Markets

CoStar Group (NASDAQ:CSGP - Get Free Report) had its price target lifted by equities researchers at BMO Capital Markets from $84.00 to $88.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a "market perform" rating on the technology company's stock. BMO Capital Markets' target price would suggest a potential downside of 2.59% from the stock's previous close.

A number of other research firms have also recently commented on CSGP. Jefferies Financial Group upped their target price on CoStar Group from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Friday, April 12th. JMP Securities reaffirmed a "market outperform" rating and set a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Keefe, Bruyette & Woods upped their target price on CoStar Group from $96.00 to $109.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Bank of America upped their target price on CoStar Group from $97.00 to $111.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Finally, Stephens reaffirmed an "overweight" rating and set a $105.00 target price on shares of CoStar Group in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and an average price target of $102.46.

CoStar Group Trading Down 1.8 %

CSGP stock traded down $1.61 during midday trading on Thursday, reaching $90.34. 2,776,661 shares of the company traded hands, compared to its average volume of 2,201,521. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The business has a 50 day moving average of $89.40 and a 200-day moving average of $84.64. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 123.75, a P/E/G ratio of 9.73 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 4.97% and a net margin of 11.64%. The business had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that CoStar Group will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company's stock worth $27,000 after acquiring an additional 173 shares during the last quarter. Riverview Trust Co acquired a new stake in CoStar Group during the 1st quarter worth about $35,000. Pinnacle Bancorp Inc. acquired a new stake in CoStar Group during the 4th quarter worth about $37,000. Connectus Wealth LLC grew its position in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company's stock worth $45,000 after purchasing an additional 467,534 shares during the period. Finally, CVA Family Office LLC acquired a new stake in CoStar Group during the 4th quarter worth about $60,000. 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.