CoStar Group (NASDAQ:CSGP) Price Target Cut to $99.00 by Analysts at JPMorgan Chase & Co.

CoStar Group (NASDAQ:CSGP) had its price objective reduced by JPMorgan Chase & Co. from $108.00 to $99.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

CSGP has been the topic of a number of other reports. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Bank of America cut their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. 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 price objective for the stock from $96.00 to $83.00 in a research report on Wednesday. Finally, Robert W. Baird cut their price objective 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.15.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $72.82 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The business’s 50 day simple moving average is $76.46 and its two-hundred day simple moving average is $79.20. The stock has a market capitalization of $29.74 billion, a P/E ratio of 99.75 and a beta of 0.81. CoStar Group has a one year low of $67.35 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Analysts forecast that CoStar Group will post 0.49 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

Several hedge funds have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC boosted its holdings in CoStar Group by 4.7% in the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after acquiring an additional 112 shares in 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 boosted its holdings in CoStar Group by 1.6% in 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 in the last quarter. Redmond Asset Management LLC boosted its holdings in CoStar Group by 0.9% in the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after acquiring an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its holdings in CoStar Group by 0.5% in the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after acquiring an additional 172 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

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.