CarGurus, Inc. (NASDAQ:CARG) Receives $37.41 Consensus Price Target from Brokerages

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $37.41.

Several research analysts have recently weighed in on the company. B. Riley upped their price objective on CarGurus from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Jefferies Financial Group boosted their target price on CarGurus from $35.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Oppenheimer raised their price target on shares of CarGurus from $32.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Needham & Company LLC lifted their price objective on shares of CarGurus from $27.00 to $39.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, JMP Securities increased their target price on shares of CarGurus from $32.00 to $41.00 and gave the stock a "market outperform" rating in a report on Monday, November 11th.

Insider Transactions at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the transaction, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. This represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Matthew Todd Quinn sold 3,495 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the sale, the chief technology officer now owns 205,696 shares of the company's stock, valued at approximately $6,053,633.28. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,897 shares of company stock worth $1,110,533 in the last ninety days. Insiders own 17.20% of the company's stock.

Institutional Investors Weigh In On CarGurus

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company's stock worth $74,000 after purchasing an additional 393 shares during the period. Lazard Asset Management LLC boosted its position in shares of CarGurus by 2.2% in the first quarter. Lazard Asset Management LLC now owns 19,510 shares of the company's stock valued at $450,000 after acquiring an additional 420 shares during the period. Signaturefd LLC increased its holdings in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company's stock worth $29,000 after purchasing an additional 430 shares during the period. Raymond James Trust N.A. raised its holdings in shares of CarGurus by 1.9% in the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company's stock valued at $644,000 after acquiring an additional 450 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock worth $41,000 after buying an additional 479 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Trading Down 0.7 %

Shares of CARG stock traded down $0.25 during trading hours on Friday, hitting $35.64. 713,463 shares of the company were exchanged, compared to its average volume of 827,405. CarGurus has a 52 week low of $18.90 and a 52 week high of $37.94. The business has a 50 day moving average of $31.09 and a two-hundred day moving average of $27.38. The company has a market capitalization of $3.68 billion, a PE ratio of -77.48, a PEG ratio of 2.03 and a beta of 1.55.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.