CarGurus (NASDAQ:CARG) Price Target Raised to $41.00 at JMP Securities

CarGurus (NASDAQ:CARG - Free Report) had its price target increased by JMP Securities from $32.00 to $41.00 in a report released on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other analysts have also issued reports on the company. Oppenheimer lifted their target price on CarGurus from $32.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday. Needham & Company LLC upped their target price on CarGurus from $27.00 to $39.00 and gave the company a "buy" rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of CarGurus from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th. BTIG Research raised their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, DA Davidson increased their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a "neutral" rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.41.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded up $1.75 during mid-day trading on Monday, hitting $36.56. 559,852 shares of the company traded hands, compared to its average volume of 826,279. The firm's 50 day simple moving average is $30.25 and its 200 day simple moving average is $26.94. CarGurus has a 52-week low of $18.83 and a 52-week high of $37.89.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. CarGurus had a negative net margin of 5.47% and a positive return on equity of 13.56%. The business had revenue of $218.69 million for the quarter, compared to analysts' expectations of $214.85 million. On average, sell-side analysts forecast that CarGurus will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CMO Dafna Sarnoff sold 4,127 shares of CarGurus stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total transaction of $123,562.38. Following the transaction, the chief marketing officer now directly owns 119,330 shares of the company's stock, valued at $3,572,740.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $28.34, for a total transaction of $713,261.12. Following the completion of the sale, the chief operating officer now directly owns 480,583 shares of the company's stock, valued at $13,619,722.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,065 shares of company stock valued at $1,823,794 in the last quarter. Corporate insiders own 17.20% of the company's stock.

Institutional Trading of CarGurus

A number of large investors have recently added to or reduced their stakes in CARG. GAMMA Investing LLC grew its holdings in shares of CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company's stock worth $74,000 after acquiring an additional 393 shares during the last quarter. Lazard Asset Management LLC raised its holdings in CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company's stock worth $450,000 after buying an additional 420 shares during the period. Signaturefd LLC lifted its stake in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after buying an additional 430 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of CarGurus by 1.9% in the second quarter. Raymond James Trust N.A. now owns 24,566 shares of the company's stock worth $644,000 after buying an additional 450 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock worth $41,000 after acquiring an additional 479 shares in the last quarter. 86.90% of the stock is currently owned by 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.