Royal Bank of Canada Raises CoStar Group (NASDAQ:CSGP) Price Target to $109.00

CoStar Group (NASDAQ:CSGP) had its price objective increased by Royal Bank of Canada from $95.00 to $109.00 in a research note published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on CSGP. BTIG Research initiated coverage on CoStar Group in a research note on Friday, January 19th. They set a neutral rating for the company. JMP Securities boosted their price objective on CoStar Group from $85.00 to $110.00 and gave the company an outperform rating in a research note on Monday, March 18th. Bank of America boosted their price objective on CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. The Goldman Sachs Group boosted their price objective on CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, BMO Capital Markets reduced their price objective on CoStar Group from $84.00 to $79.00 and set a market perform rating for the company in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, CoStar Group currently has an average rating of Moderate Buy and a consensus price target of $99.70.

CoStar Group Stock Performance

Shares of CSGP opened at $96.22 on Monday. The stock has a 50-day simple moving average of $86.24 and a 200-day simple moving average of $82.87. 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 stock has a market capitalization of $39.30 billion, a PE ratio of 104.59, a PEG ratio of 11.08 and a beta of 0.83. CoStar Group has a 1 year low of $67.03 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, analysts predict that CoStar Group will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Quarry LP grew its holdings in CoStar Group by 75.5% during the first quarter. Quarry LP now owns 358 shares of the technology company’s stock worth $25,000 after acquiring an additional 154 shares during the period. Blue Trust Inc. grew its holdings in CoStar Group by 125.4% during the fourth 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 period. West Tower Group LLC acquired a new position in CoStar Group during the second quarter worth $29,000. Resurgent Financial Advisors LLC acquired a new position in CoStar Group during the fourth quarter worth $30,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in CoStar Group during the second quarter worth $33,000. Institutional investors and hedge funds 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.