Needham & Company LLC Cuts CoStar Group (NASDAQ:CSGP) Price Target to $100.00

CoStar Group (NASDAQ:CSGP) had its target price decreased by Needham & Company LLC from $107.00 to $100.00 in a report released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other research firms have also recently commented on CSGP. JPMorgan Chase & Co. boosted their price target on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird dropped their target price 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. The Goldman Sachs Group reduced their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Bank of America reduced their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Price Performance

CSGP opened at $74.48 on Wednesday. The firm has a market capitalization of $30.52 billion, a P/E ratio of 169.28 and a beta of 0.81. The stock has a fifty day moving average of $76.45 and a 200-day moving average of $79.16. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The company 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 3.54% and a net margin of 6.57%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Equities analysts forecast that CoStar Group will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On CoStar Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in CoStar Group during the 1st quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of CoStar Group by 25.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock worth $1,451,000 after acquiring an additional 3,008 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in CoStar Group during the first quarter worth $228,000. Artemis Investment Management LLP acquired a new position in CoStar Group during the 1st quarter valued at $37,243,000. Finally, Atlantic Union Bankshares Corp boosted its holdings in CoStar Group by 10.3% in the 1st quarter. Atlantic Union Bankshares Corp now owns 19,423 shares of the technology company’s stock valued at $1,876,000 after purchasing an additional 1,817 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

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.