CarGurus, Inc. (NASDAQ:CARG) Receives Consensus Rating of "Moderate Buy" from Analysts

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $38.41.

Several research analysts have issued reports on CARG shares. Needham & Company LLC upped their price objective on CarGurus from $39.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Royal Bank of Canada upped their price target on CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. BTIG Research lifted their price objective on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Finally, Citigroup raised shares of CarGurus from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th.

CarGurus Stock Performance

CarGurus stock traded up $0.34 on Thursday, reaching $40.85. The company's stock had a trading volume of 267,407 shares, compared to its average volume of 758,672. CarGurus has a twelve month low of $21.18 and a twelve month high of $41.33. The business's fifty day moving average price is $37.35 and its 200 day moving average price is $32.10. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -88.87, a PEG ratio of 1.70 and a beta of 1.58.

Insiders Place Their Bets

In other news, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.41, for a total value of $354,100.00. Following the sale, the chief executive officer now directly owns 779,606 shares in the company, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now directly owns 115,983 shares of the company's stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,556 shares of company stock worth $2,682,940. Corporate insiders own 17.20% of the company's stock.

Hedge Funds Weigh In On CarGurus

Several hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after purchasing an additional 456 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in CarGurus during the third quarter worth $28,000. USA Financial Formulas bought a new stake in CarGurus during the fourth quarter worth $35,000. Signaturefd LLC lifted its stake in CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after acquiring an additional 430 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus in the 3rd quarter valued at about $30,000. Institutional investors own 86.90% of the company's stock.

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.