Jefferies Financial Group Boosts CarGurus (NASDAQ:CARG) Price Target to $38.00

CarGurus (NASDAQ:CARG) had its price target lifted by Jefferies Financial Group from $35.00 to $38.00 in a report published on Tuesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

CARG has been the topic of several other reports. Needham & Company LLC raised their price objective on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada raised their price objective on CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. BTIG Research raised their price objective on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. DA Davidson reaffirmed a “neutral” rating and issued a $26.50 price objective on shares of CarGurus in a research note on Tuesday, September 10th. Finally, B. Riley raised their price objective on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.59.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $32.15 on Tuesday. CarGurus has a 52 week low of $16.70 and a 52 week high of $32.36. The stock has a market capitalization of $3.35 billion, a P/E ratio of 114.82, a PEG ratio of 1.48 and a beta of 1.56. The stock’s fifty day moving average is $29.47 and its 200 day moving average is $26.15.

CarGurus (NASDAQ:CARG) last issued its quarterly 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 positive return on equity of 11.06% and a negative net margin of 5.57%. The company had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. Equities research analysts forecast that CarGurus will post 1.18 earnings per share for the current year.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now 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 document filed with the SEC, which is accessible through this hyperlink. In related news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 owns 449,821 shares in the company, 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 sold 61,065 shares of company stock worth $1,823,794. 17.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CARG. State of Alaska Department of Revenue raised its stake in CarGurus by 8.2% during the third quarter. State of Alaska Department of Revenue now owns 49,874 shares of the company’s stock valued at $1,497,000 after buying an additional 3,790 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in CarGurus by 6.8% during the third quarter. Louisiana State Employees Retirement System now owns 42,200 shares of the company’s stock valued at $1,267,000 after purchasing an additional 2,700 shares during the period. Assenagon Asset Management S.A. grew its holdings in CarGurus by 629.3% during the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock valued at $11,183,000 after purchasing an additional 321,318 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in CarGurus by 5.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,157 shares of the company’s stock valued at $365,000 after purchasing an additional 584 shares during the period. Finally, Signaturefd LLC boosted its stake 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 acquiring an additional 430 shares during the period. Hedge funds and other 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.