Needham & Company LLC Lowers 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.

A number of other analysts have also commented on CSGP. Bank of America decreased their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird cut their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Price Performance

Shares of CSGP opened at $74.48 on Wednesday. The business’s fifty day moving average is $76.46 and its 200 day moving average is $78.91. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.52 billion, a P/E ratio of 169.28 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. Sell-side analysts anticipate that CoStar Group will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

Several institutional investors have recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in CoStar Group in the first quarter worth $31,000. Riverview Trust Co purchased a new stake in CoStar Group in the 1st quarter worth about $35,000. RiverPark Advisors LLC bought a new stake in CoStar Group in the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group in the 2nd quarter valued at about $49,000. Finally, Quarry LP purchased a new stake in CoStar Group during the second quarter valued at about $54,000. Hedge funds and other 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.