CarGurus (NASDAQ:CARG) PT Raised to $35.00 at BTIG Research

CarGurus (NASDAQ:CARG - Free Report) had its price target increased by BTIG Research from $30.00 to $35.00 in a research report report published on Tuesday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other research firms also recently issued reports on CARG. Royal Bank of Canada raised their price target on shares of CarGurus from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. JMP Securities reiterated a "market outperform" rating and set a $32.00 price target on shares of CarGurus in a research report on Monday, September 9th. Citigroup boosted their price objective on CarGurus from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, July 3rd. Oppenheimer raised their target price on CarGurus from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of CarGurus from $29.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, CarGurus presently has a consensus rating of "Moderate Buy" and an average price target of $30.59.

CarGurus Stock Up 1.2 %

Shares of CarGurus stock traded up $0.38 on Tuesday, hitting $32.04. 515,818 shares of the company's stock traded hands, compared to its average volume of 841,098. CarGurus has a 52-week low of $16.70 and a 52-week high of $32.36. The stock has a market cap of $3.34 billion, a P/E ratio of 113.96, a PEG ratio of 1.48 and a beta of 1.56. The firm's 50-day moving average is $29.24 and its 200 day moving average is $26.01.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The company had revenue of $218.69 million during the quarter, compared to analyst estimates of $214.85 million. Equities research analysts forecast that CarGurus will post 1.18 EPS for the current year.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 25,168 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the completion of the sale, the chief operating officer now directly owns 449,821 shares of the company's stock, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the sale, the chief marketing officer now owns 128,952 shares in the company, valued at approximately $3,664,815.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the company's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the sale, the chief operating officer now directly owns 449,821 shares of the company's stock, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,065 shares of company stock valued at $1,823,794. Company insiders own 17.20% of the company's stock.

Institutional Trading of CarGurus

Several institutional investors and hedge funds have recently bought and sold shares of CARG. Signaturefd LLC boosted its position 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 buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CarGurus during the third quarter worth approximately $30,000. CWM LLC grew its position in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company's stock valued at $36,000 after purchasing an additional 485 shares in the last quarter. Nisa Investment Advisors LLC increased 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 valued at $41,000 after buying an additional 479 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in CarGurus in the 1st quarter worth approximately $49,000. Institutional investors and hedge funds 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.