CoStar Group (NASDAQ:CSGP) Price Target Cut to $100.00 by Analysts at Needham & Company LLC

by · The Cerbat Gem

CoStar Group (NASDAQ:CSGP – Free Report) had its price objective decreased by Needham & Company LLC from $107.00 to $100.00 in a report published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $96.00 to $83.00 in a research report on Wednesday. Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Finally, Robert W. Baird dropped their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

Read Our Latest Stock Analysis on CoStar Group

CoStar Group Stock Down 5.3 %

Shares of NASDAQ:CSGP opened at $72.82 on Wednesday. The stock’s 50-day moving average price is $76.46 and its two-hundred day moving average price is $79.20. 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 has a 12-month low of $67.35 and a 12-month high of $100.38. The firm has a market cap of $29.74 billion, a price-to-earnings ratio of 99.75 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, research analysts forecast that CoStar Group will post 0.49 EPS for the current year.

Institutional Trading of CoStar Group

Several hedge funds have recently added to or reduced their stakes in CSGP. Riverview Trust Co bought a new stake in CoStar Group during the 1st quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC boosted its stake in CoStar Group by 25.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock valued at $1,451,000 after purchasing an additional 3,008 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in CoStar Group during the 1st quarter valued at approximately $228,000. Artemis Investment Management LLP bought a new stake in CoStar Group during the 1st quarter valued at approximately $37,243,000. Finally, Atlantic Union Bankshares Corp boosted its stake in CoStar Group by 10.3% during the 1st quarter. Atlantic Union Bankshares Corp now owns 19,423 shares of the technology company’s stock valued at $1,876,000 after purchasing an additional 1,817 shares during the period. Institutional investors own 96.60% of the company’s stock.

About CoStar Group

(Get Free Report)

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.

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