CarGurus, Inc. (NASDAQ:CARG) Receives $39.55 Average PT from Brokerages

Shares of CarGurus, Inc. (NASDAQ:CARG - Get Free Report) have been assigned a consensus rating of "Buy" from the ten analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $39.55.

Several research firms recently commented on CARG. JPMorgan Chase & Co. raised their target price on CarGurus from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. Oppenheimer lowered their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th.

CarGurus Price Performance

NASDAQ:CARG traded up $0.35 during midday trading on Friday, hitting $31.75. The company's stock had a trading volume of 1,059,222 shares, compared to its average volume of 783,104. CarGurus has a fifty-two week low of $21.18 and a fifty-two week high of $41.33. The firm has a market cap of $3.32 billion, a P/E ratio of 176.40, a P/E/G ratio of 1.72 and a beta of 1.52. The firm's 50 day moving average is $35.49 and its 200-day moving average is $34.28.

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CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, analysts forecast that CarGurus will post 1.41 EPS for the current year.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the transaction, the chief executive officer now owns 115,983 shares in the company, 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. Insiders sold 61,888 shares of company stock valued at $2,229,388 over the last 90 days. Corporate insiders own 17.20% of the company's stock.

Hedge Funds Weigh In On CarGurus

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in CarGurus in the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC raised its holdings in shares of CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after acquiring an additional 532 shares during the period. Fifth Third Bancorp boosted its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after acquiring an additional 456 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after purchasing an additional 424 shares during the period. Finally, USA Financial Formulas acquired a new stake in CarGurus during the fourth quarter worth about $35,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Company Profile

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.