BMO Capital Markets Lowers CoStar Group (NASDAQ:CSGP) Price Target to $75.00

CoStar Group (NASDAQ:CSGP) had its target price dropped by analysts at BMO Capital Markets from $78.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price indicates a potential upside of 0.70% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Bank of America lowered their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC lowered their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $74.48 on Thursday. CoStar Group has a one year low of $68.26 and a one year high of $100.38. The company has a market capitalization of $30.52 billion, a PE ratio of 169.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company has a 50-day simple moving average of $76.45 and a two-hundred day simple moving average of $79.16.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. CoStar Group’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Research analysts expect that CoStar Group will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

Several hedge funds have recently bought and sold shares of the stock. Swedbank AB purchased a new stake in CoStar Group during the first quarter worth $4,223,000. SG Americas Securities LLC boosted its stake in shares of CoStar Group by 390.8% during the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after acquiring an additional 79,467 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of CoStar Group by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after acquiring an additional 17,658 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in CoStar Group by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock worth $46,145,000 after purchasing an additional 23,987 shares during the period. Finally, Twin Tree Management LP purchased a new position in CoStar Group during the first quarter worth approximately $802,000. Hedge funds and other institutional investors 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.