JPMorgan Chase & Co. Lowers CoStar Group (NASDAQ:CSGP) Price Target to $99.00

CoStar Group (NASDAQ:CSGP) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $108.00 to $99.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 41.09% from the company’s current price.

CSGP has been the topic of several other reports. Bank of America reduced their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group decreased their price target 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. Needham & Company LLC dropped their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Finally, StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.15.

CoStar Group Stock Down 8.7 %

Shares of CSGP traded down $6.70 during midday trading on Wednesday, hitting $70.17. The company had a trading volume of 7,951,959 shares, compared to its average volume of 2,280,098. The stock has a market cap of $28.76 billion, a price-to-earnings ratio of 132.08 and a beta of 0.81. The company’s 50 day moving average price is $76.47 and its 200 day moving average price is $79.24. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group has a 52 week low of $67.35 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the previous year, the company earned $0.25 earnings per share. CoStar Group’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts predict that CoStar Group will post 0.49 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

Institutional investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new position in CoStar Group during the 1st quarter valued at $35,000. Wealth Enhancement Advisory Services LLC raised its position in CoStar Group by 25.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock worth $1,451,000 after acquiring an additional 3,008 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in CoStar Group in the 1st quarter valued at about $228,000. Artemis Investment Management LLP bought a new position in shares of CoStar Group during the 1st quarter valued at about $37,243,000. Finally, Atlantic Union Bankshares Corp grew its stake in shares of CoStar Group by 10.3% in the 1st quarter. Atlantic Union Bankshares Corp now owns 19,423 shares of the technology company’s stock worth $1,876,000 after purchasing an additional 1,817 shares during 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.