Royal Bank of Canada Increases CoStar Group (NASDAQ:CSGP) Price Target to $109.00

CoStar Group (NASDAQ:CSGP) had its price objective lifted by Royal Bank of Canada from $95.00 to $109.00 in a report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other equities analysts also recently issued reports on CSGP. Robert W. Baird upped their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the company an outperform rating in a research note on Monday, March 18th. BMO Capital Markets cut their price objective on shares of CoStar Group from $84.00 to $79.00 and set a market perform rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group boosted their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a buy rating in a report on Wednesday, March 20th. Needham & Company LLC lowered their price objective on shares of CoStar Group from $105.00 to $90.00 and set a buy rating for the company in a research note on Wednesday, February 21st. Finally, JMP Securities increased their target price on CoStar Group from $85.00 to $110.00 and gave the stock an outperform rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $99.70.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $96.60 on Monday. CoStar Group has a twelve month low of $67.22 and a twelve month high of $100.38. The company has a market capitalization of $39.45 billion, a P/E ratio of 105.00, a price-to-earnings-growth ratio of 10.90 and a beta of 0.83. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $86.53 and a two-hundred day moving average price of $82.97.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The firm had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the prior year, the company earned $0.35 EPS. CoStar Group’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that CoStar Group will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. purchased a new position in shares of CoStar Group during the 4th quarter valued at approximately $6,333,000. HighPoint Advisor Group LLC bought a new stake in shares of CoStar Group in the 4th quarter worth about $340,000. PNC Financial Services Group Inc. raised its stake in shares of CoStar Group by 14.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 94,310 shares of the technology company’s stock valued at $8,242,000 after purchasing an additional 11,858 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of CoStar Group by 597.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 90,710 shares of the technology company’s stock worth $7,927,000 after purchasing an additional 77,710 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in CoStar Group in the fourth quarter valued at about $94,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.