CoStar Group (NASDAQ:CSGP) PT Lowered to $99.00 at JPMorgan Chase & Co.

CoStar Group (NASDAQ:CSGP) had its price target trimmed by JPMorgan Chase & Co. from $108.00 to $99.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

CSGP has been the subject of a number of other research reports. The Goldman Sachs Group dropped their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird decreased their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a report on Wednesday. Bank of America lowered their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $74.48 on Wednesday. The business’s 50-day moving average price is $76.45 and its 200-day moving average price is $79.16. The firm has a market capitalization of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13.

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

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in CoStar Group during the first quarter worth about $31,000. Riverview Trust Co purchased a new stake in shares of CoStar Group in the 1st quarter worth approximately $35,000. RiverPark Advisors LLC bought a new position in CoStar Group during the 1st quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. purchased a new position in CoStar Group during the second quarter valued at $49,000. Finally, Quarry LP bought a new stake in CoStar Group in the second quarter worth $54,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.