Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for CoStar Group (NASDAQ:CSGP) Stock

CoStar Group (NASDAQ:CSGP) had its price target increased by analysts at Keefe, Bruyette & Woods from $95.00 to $100.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 18.06% from the company’s previous close.

Several other equities research analysts have also issued reports on CSGP. Stephens raised CoStar Group to a “strong-buy” rating and set a $105.00 price target for the company in a research note on Monday, June 16th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and set a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. Needham & Company LLC boosted their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Bank of America assumed coverage on shares of CoStar Group in a report on Friday, May 30th. They set a “neutral” rating and a $79.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $88.46.

CoStar Group Stock Performance

CoStar Group stock opened at $84.70 on Thursday. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $86.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.01 and a current ratio of 6.01. The stock has a market cap of $35.73 billion, a P/E ratio of 292.07, a price-to-earnings-growth ratio of 4.28 and a beta of 0.89. The firm’s fifty day moving average price is $79.40 and its 200-day moving average price is $77.53.

Institutional Trading of CoStar Group

Several large investors have recently modified their holdings of CSGP. Mizuho Markets Americas LLC purchased a new stake in CoStar Group in the 1st quarter worth approximately $586,403,000. Norges Bank purchased a new stake in CoStar Group in the fourth quarter worth $390,755,000. Capital International Investors boosted its holdings in CoStar Group by 44.9% in the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock valued at $1,004,578,000 after acquiring an additional 4,345,267 shares in the last quarter. Vanguard Group Inc. raised its holdings in CoStar Group by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company’s stock worth $5,421,448,000 after purchasing an additional 2,709,320 shares in the last quarter. Finally, Third Point LLC purchased a new stake in shares of CoStar Group in the 1st quarter worth about $156,479,000. 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.