Needham & Company LLC Raises CoStar Group (NASDAQ:CSGP) Price Target to $107.00

CoStar Group (NASDAQ:CSGP) had its price target raised by Needham & Company LLC from $90.00 to $107.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $96.00 to $109.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Bank of America upped their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. JMP Securities reissued a market outperform rating and set a $110.00 price objective on shares of CoStar Group in a research note on Friday, April 12th. The Goldman Sachs Group upped their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price objective on shares of CoStar Group from $95.00 to $109.00 and gave the company an outperform rating in a research note on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of Moderate Buy and a consensus price target of $102.46.

CoStar Group Stock Up 2.6 %

Shares of NASDAQ CSGP opened at $92.65 on Wednesday. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a market capitalization of $37.83 billion, a PE ratio of 126.92, a price-to-earnings-growth ratio of 10.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 12.01. The firm’s 50-day moving average is $89.77 and its two-hundred day moving average is $84.76.

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 for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities analysts anticipate that CoStar Group will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

Large investors have recently made changes to their positions in the business. Blue Trust Inc. increased its position in shares of CoStar Group by 125.4% in 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 in the last quarter. Riverview Trust Co acquired a new stake in shares of CoStar Group in the first quarter worth $35,000. TFO Wealth Partners LLC increased its position in shares of CoStar Group by 5,571.4% in the fourth quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock worth $350,000 after acquiring an additional 390 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of CoStar Group in the fourth quarter worth $37,000. Finally, CVA Family Office LLC acquired a new stake in shares of CoStar Group in the fourth quarter worth $60,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.