B. Riley Increases CarGurus (NASDAQ:CARG) Price Target to $40.00

CarGurus (NASDAQ:CARG) had its target price hoisted by B. Riley from $30.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target would indicate a potential upside of 6.67% from the company’s previous close.

Other research analysts also recently issued reports about the company. Oppenheimer increased their price objective on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. DA Davidson upped their price objective on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their target price 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. Finally, JMP Securities upped their price target on CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $37.41.

CarGurus Trading Up 2.7 %

CARG stock opened at $37.50 on Monday. CarGurus has a 12-month low of $18.83 and a 12-month high of $37.94. The business’s 50-day moving average is $30.59 and its 200 day moving average is $27.13. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of -81.52, a PEG ratio of 1.94 and a beta of 1.55.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on 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 approximately $13,619,722.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Dafna Sarnoff sold 4,127 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the transaction, the chief marketing officer now directly owns 119,330 shares in the company, valued at $3,572,740.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,065 shares of company stock valued at $1,823,794 over the last 90 days. 17.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CarGurus

A number of institutional investors and hedge funds have recently bought and sold shares of CARG. UniSuper Management Pty Ltd acquired a new position in CarGurus during the first quarter worth approximately $483,000. Swedbank AB acquired a new position in shares of CarGurus in the 1st quarter valued at $1,352,000. SG Capital Management LLC purchased a new stake in CarGurus in the 1st quarter valued at $4,222,000. LSV Asset Management boosted its stake in CarGurus by 533.3% during the 1st quarter. LSV Asset Management now owns 57,000 shares of the company’s stock worth $1,316,000 after purchasing an additional 48,000 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in CarGurus during the 1st quarter worth $3,978,000. 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.