The Goldman Sachs Group Trims CoStar Group (NASDAQ:CSGP) Target Price to $93.00

CoStar Group (NASDAQ:CSGP) had its price objective trimmed by The Goldman Sachs Group from $108.00 to $93.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also issued reports on CSGP. William Blair reissued an outperform rating on shares of CoStar Group in a report on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $109.00 to $100.00 and set an outperform rating for the company in a research note on Wednesday, July 17th. JMP Securities lowered their target price on shares of CoStar Group from $110.00 to $90.00 and set a market outperform rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a buy rating and set a $107.00 target price on shares of CoStar Group in a research note on Wednesday. Finally, Stephens reaffirmed an overweight rating and set a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $96.08.

CoStar Group Trading Up 0.9 %

Shares of CSGP opened at $78.51 on Wednesday. The company has a current ratio of 9.27, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The firm has a 50-day moving average price of $76.81 and a 200 day moving average price of $83.99. The firm has a market capitalization of $32.06 billion, a P/E ratio of 107.55, a P/E/G ratio of 11.58 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. CoStar Group’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts forecast that CoStar Group will post 0.49 EPS for the current year.

Institutional Trading of CoStar Group

Several hedge funds have recently made changes to their positions in CSGP. Norges Bank acquired a new stake in CoStar Group in the fourth quarter valued at approximately $406,934,000. Janus Henderson Group PLC raised its holdings in CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares in the last quarter. Capital International Investors raised its holdings in CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after acquiring an additional 982,837 shares in the last quarter. Capital Research Global Investors raised its holdings in CoStar Group by 49.2% in the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after acquiring an additional 796,386 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after acquiring an additional 731,375 shares in the last quarter. 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.