CoStar Group (NASDAQ:CSGP) Given New $90.00 Price Target at JMP Securities

CoStar Group (NASDAQ:CSGP) had its price objective decreased by JMP Securities from $110.00 to $90.00 in a research report report published on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

Several other research analysts also recently commented on CSGP. Bank of America reduced their target price on CoStar Group from $111.00 to $89.00 and set a buy rating for the company in a research note on Monday, July 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $109.00 to $100.00 and set an outperform rating for the company in a research report on Wednesday, July 17th. Stephens reissued an overweight rating and issued a $105.00 price objective on shares of CoStar Group in a research report on Wednesday, April 24th. Jefferies Financial Group lifted their target price on shares of CoStar Group from $85.00 to $95.00 and gave the stock a hold rating in a report on Friday, April 12th. Finally, Needham & Company LLC increased their price target on shares of CoStar Group from $90.00 to $107.00 and gave the company a buy rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $96.08.

CoStar Group Stock Performance

Shares of CSGP stock opened at $78.51 on Wednesday. The company has a fifty day moving average price of $76.81 and a two-hundred day moving average price of $83.99. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The stock has a market cap of $32.06 billion, a P/E ratio of 107.55, a P/E/G ratio of 11.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.09.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same period in the prior year, the firm earned $0.27 EPS. CoStar Group’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that CoStar Group will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSGP. State of Michigan Retirement System increased its holdings in CoStar Group by 1.1% in the 2nd quarter. State of Michigan Retirement System now owns 120,800 shares of the technology company’s stock valued at $8,956,000 after buying an additional 1,300 shares during the period. SlateStone Wealth LLC increased its stake in CoStar Group by 95.5% in the second quarter. SlateStone Wealth LLC now owns 25,823 shares of the technology company’s stock valued at $1,914,000 after acquiring an additional 12,615 shares during the last quarter. Bank of New York Mellon Corp raised its position in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after purchasing an additional 124,761 shares in the last quarter. Institute for Wealth Management LLC. raised its position in CoStar Group by 6.6% during the second quarter. Institute for Wealth Management LLC. now owns 20,479 shares of the technology company’s stock valued at $1,518,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Atlantic Union Bankshares Corp lifted its stake in CoStar Group by 44.7% during the second quarter. Atlantic Union Bankshares Corp now owns 28,098 shares of the technology company’s stock worth $2,083,000 after purchasing an additional 8,675 shares during the last quarter. 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.