CoStar Group (NASDAQ:CSGP) Given New $107.00 Price Target at Needham & Company LLC

CoStar Group (NASDAQ:CSGP) had its price target lifted by research analysts at Needham & Company LLC from $90.00 to $107.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 26.45% from the stock’s previous close.

Several other research firms also recently commented on CSGP. Royal Bank of Canada upped their price objective on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Robert W. Baird increased their target price on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Bank of America raised their price objective on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Keefe, Bruyette & Woods increased their target price on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group raised their price objective on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.92.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $84.62 on Wednesday. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The company has a market cap of $34.56 billion, a price-to-earnings ratio of 91.98, a PEG ratio of 9.81 and a beta of 0.84. 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 business’s 50 day moving average price is $89.21 and its 200 day moving average price is $84.59.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, research analysts predict that CoStar Group will post 0.44 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after buying an additional 761,383 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of CoStar Group by 0.5% in the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock valued at $1,476,019,000 after buying an additional 91,399 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of CoStar Group by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after buying an additional 596,595 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of CoStar Group by 6.1% in the third quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock valued at $428,256,000 after buying an additional 319,960 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of CoStar Group by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock valued at $425,056,000 after buying an additional 218,094 shares in the last quarter. Institutional investors 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.