CarGurus, Inc. (NASDAQ:CARG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have received an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.35.

A number of analysts have issued reports on CARG shares. B. Riley boosted their price target on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. DA Davidson reiterated a “neutral” rating and set a $26.50 target price on shares of CarGurus in a report on Tuesday, September 10th. Needham & Company LLC boosted their price target on shares of CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Oppenheimer lifted their target price on CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $32.00 target price on shares of CarGurus in a research note on Monday, September 9th.

CarGurus Stock Performance

NASDAQ:CARG opened at $31.66 on Tuesday. The stock has a market capitalization of $3.30 billion, a P/E ratio of 113.07, a PEG ratio of 1.48 and a beta of 1.56. CarGurus has a fifty-two week low of $16.70 and a fifty-two week high of $31.94. The company has a 50 day moving average price of $29.24 and a 200 day moving average price of $26.01.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $218.69 million during the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. Research analysts forecast that CarGurus will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at CarGurus

In other 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 sale, the chief operating officer now owns 480,583 shares in the company, valued at approximately $13,619,722.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the sale, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief operating officer now directly owns 480,583 shares in the company, 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 a total of 61,065 shares of company stock worth $1,823,794 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd acquired a new stake in CarGurus during the 1st quarter worth approximately $483,000. Capstone Investment Advisors LLC purchased a new position in CarGurus during the 1st quarter worth $1,315,000. Jennison Associates LLC acquired a new stake in shares of CarGurus in the 1st quarter worth $707,000. Swedbank AB purchased a new stake in shares of CarGurus in the first quarter valued at about $1,352,000. Finally, SG Capital Management LLC acquired a new position in shares of CarGurus during the first quarter worth about $4,222,000. 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.