Citigroup Cuts CoStar Group (NASDAQ:CSGP) Price Target to $90.00

CoStar Group (NASDAQ:CSGP) had its price objective dropped by investment analysts at Citigroup from $97.00 to $90.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price points to a potential upside of 23.75% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Bank of America lowered their price target on shares of 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. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $92.62.

CoStar Group Stock Down 0.1 %

Shares of NASDAQ:CSGP traded down $0.09 during trading hours on Thursday, reaching $72.73. The stock had a trading volume of 185,518 shares, compared to its average volume of 2,302,354. CoStar Group has a 1 year low of $67.35 and a 1 year high of $100.38. The firm’s 50 day moving average is $76.46 and its 200-day moving average is $79.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a market capitalization of $29.70 billion, a price-to-earnings ratio of 99.63 and a beta of 0.81.

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

Hedge Funds Weigh In On CoStar Group

Several large investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC increased its stake in shares of CoStar Group by 4.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after purchasing an additional 112 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after buying an additional 135 shares during the period. Bleakley Financial Group LLC raised its position in CoStar Group by 1.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares during the period. Redmond Asset Management LLC raised its holdings in shares of CoStar Group by 0.9% in the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after acquiring an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its position in shares of CoStar Group by 0.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after purchasing an additional 172 shares during the period. 96.60% of the stock is currently owned by hedge funds and other 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.