SunTrust Banks Raises CoStar Group (NASDAQ:CSGP) Price Target to $850.00

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CoStar Group (NASDAQ:CSGP) had its target price lifted by SunTrust Banks from $695.00 to $850.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on CSGP. JMP Securities upped their price target on CoStar Group from $725.00 to $800.00 and gave the stock an outperform rating in a report on Wednesday. BidaskClub cut CoStar Group from a strong-buy rating to a buy rating in a report on Tuesday, July 14th. Bank of America assumed coverage on CoStar Group in a report on Wednesday, July 8th. They issued a buy rating and a $850.00 price target on the stock. Citigroup upped their price target on CoStar Group from $700.00 to $815.00 and gave the stock a buy rating in a report on Tuesday, July 21st. Finally, Zacks Investment Research upgraded CoStar Group from a sell rating to a hold rating in a report on Wednesday, July 1st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $791.08.

Shares of CSGP stock opened at $849.76 on Wednesday. The company has a market cap of $32.78 billion, a price-to-earnings ratio of 104.65 and a beta of 1.10. The stock has a 50 day simple moving average of $708.87 and a 200-day simple moving average of $661.58. CoStar Group has a 12-month low of $500.24 and a 12-month high of $939.00. The company has a current ratio of 14.01, a quick ratio of 8.75 and a debt-to-equity ratio of 0.14.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, July 28th. The technology company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.34. The business had revenue of $392.00 million during the quarter, compared to the consensus estimate of $390.18 million. CoStar Group had a return on equity of 8.81% and a net margin of 19.76%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.23 EPS. On average, equities analysts forecast that CoStar Group will post 8.26 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in CoStar Group by 5.0% during the 4th quarter. Franklin Resources Inc. now owns 872,822 shares of the technology company’s stock valued at $522,191,000 after buying an additional 41,537 shares during the last quarter. State Street Corp boosted its holdings in shares of CoStar Group by 1.0% during the first quarter. State Street Corp now owns 782,905 shares of the technology company’s stock worth $459,730,000 after purchasing an additional 7,987 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of CoStar Group by 51.3% during the first quarter. Wellington Management Group LLP now owns 660,996 shares of the technology company’s stock worth $388,144,000 after purchasing an additional 224,155 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CoStar Group by 11,720.3% during the first quarter. Principal Financial Group Inc. now owns 543,732 shares of the technology company’s stock worth $319,285,000 after purchasing an additional 539,132 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of CoStar Group by 19.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 511,336 shares of the technology company’s stock worth $300,261,000 after purchasing an additional 84,667 shares during the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

Further Reading: Trading based on a resistance level

The Fly

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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