Analysts Set CarGurus, Inc. (NASDAQ:CARG) Target Price at $24.90

CarGurus, Inc. (NASDAQ:CARG) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.90.

Several brokerages recently issued reports on CARG. JMP Securities reaffirmed a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. UBS Group raised their target price on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Oppenheimer increased their price target on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, Needham & Company LLC lifted their price objective on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

Insider Activity at CarGurus

In related news, insider Andrea Lee Eldridge sold 22,358 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the completion of the sale, the insider now directly owns 117,432 shares of the company’s stock, valued at approximately $2,598,770.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Andrea Lee Eldridge sold 22,358 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the completion of the sale, the insider now directly owns 117,432 shares of the company’s stock, valued at approximately $2,598,770.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the sale, the chief marketing officer now directly owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The disclosure for this sale can be found here. Insiders sold 113,793 shares of company stock valued at $2,523,342 in the last three months. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of CarGurus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new stake in CarGurus during the 3rd quarter worth approximately $30,000. Acadian Asset Management LLC bought a new stake in CarGurus during the 3rd quarter worth approximately $32,000. GAMMA Investing LLC bought a new stake in CarGurus during the 4th quarter worth approximately $32,000. PNC Financial Services Group Inc. increased its holdings in CarGurus by 298.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company’s stock worth $52,000 after purchasing an additional 2,210 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in CarGurus during the 4th quarter worth approximately $65,000. 86.90% of the stock is owned by institutional investors.

CarGurus Stock Performance

Shares of CARG opened at $22.75 on Tuesday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 126.39, a PEG ratio of 1.39 and a beta of 1.57. CarGurus has a 52 week low of $15.34 and a 52 week high of $24.64. The stock has a fifty day moving average of $22.80 and a 200-day moving average of $22.18.

CarGurus (NASDAQ:CARG) last announced its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $223.12 million during the quarter, compared to analyst estimates of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. CarGurus’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. As a group, equities analysts forecast that CarGurus will post 0.94 EPS for the current year.

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.