Citigroup Trims CoStar Group (NASDAQ:CSGP) Target Price to $90.00

CoStar Group (NASDAQ:CSGPFree Report) had its price target cut by Citigroup from $97.00 to $90.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

CSGP has been the subject of several other research reports. Needham & Company LLC cut their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets reduced their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday. Bank of America lowered their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reduced their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $92.62.

View Our Latest Analysis on CoStar Group

CoStar Group Price Performance

CSGP traded up $1.13 during trading on Thursday, reaching $75.04. 238,500 shares of the company traded hands, compared to its average volume of 2,329,614. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a fifty day simple moving average of $76.46 and a 200 day simple moving average of $79.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company has a market cap of $30.75 billion, a P/E ratio of 167.98 and a beta of 0.81.

CoStar Group (NASDAQ:CSGPGet Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. On average, equities analysts forecast that CoStar Group will post 0.49 EPS for the current year.

Hedge Funds Weigh In On CoStar Group

A number of institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC grew its stake in CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after buying an additional 112 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after acquiring an additional 135 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after acquiring an additional 138 shares during the last quarter. Redmond Asset Management LLC increased its holdings in shares of CoStar Group by 0.9% during the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after acquiring an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its position in shares of CoStar Group by 0.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Company Profile

(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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