Needham & Company LLC Increases CoStar Group (NASDAQ:CSGP) Price Target to $107.00

CoStar Group (NASDAQ:CSGP) had its price objective lifted by Needham & Company LLC from $90.00 to $107.00 in a research report report published on Wednesday, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other research analysts have also weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Citigroup raised their target price on CoStar Group from $90.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Royal Bank of Canada raised their target price on CoStar Group from $95.00 to $109.00 and gave the company an outperform rating in a research note on Monday, March 25th. BTIG Research initiated coverage on CoStar Group in a research note on Friday, January 19th. They issued a neutral rating for the company. Finally, Bank of America raised their target price on CoStar Group from $97.00 to $111.00 and gave the company a buy rating in a research note on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $102.46.

CoStar Group Stock Performance

CSGP stock opened at $92.65 on Wednesday. The stock has a 50-day moving average price of $89.77 and a 200-day moving average price of $84.78. CoStar Group has a 1-year low of $67.35 and a 1-year high of $100.38. The company has a current ratio of 9.09, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The firm has a market cap of $37.83 billion, a PE ratio of 126.92, a price-to-earnings-growth ratio of 10.59 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same period last year, the company posted $0.35 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts expect that CoStar Group will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On CoStar Group

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. Riverview Trust Co purchased a new position in shares of CoStar Group in the 1st quarter worth approximately $35,000. TFO Wealth Partners LLC boosted its stake in shares of CoStar Group by 5,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock worth $350,000 after buying an additional 390 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of CoStar Group in the 4th quarter worth approximately $37,000. Finally, CVA Family Office LLC purchased a new position in shares of CoStar Group in the 4th quarter worth approximately $60,000. Institutional investors and hedge funds 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.