CarGurus (CARG) Set to Announce Earnings on Thursday

CarGurus (NASDAQ:CARG) is set to announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of $0.29 per share for the quarter. CarGurus has set its Q1 guidance at $0.24-0.29 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million for 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%. The firm’s quarterly revenue was down 22.2% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. On average, analysts expect CarGurus to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CarGurus Price Performance

CARG opened at $23.00 on Tuesday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 127.78, a price-to-earnings-growth ratio of 1.38 and a beta of 1.57. CarGurus has a 12 month low of $16.02 and a 12 month high of $24.64. The business has a 50-day moving average of $22.78 and a two-hundred day moving average of $22.25.

Insider Activity

In related news, CMO Dafna Sarnoff sold 4,301 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the sale, the chief marketing officer now directly owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Andrea Lee Eldridge sold 22,358 shares of CarGurus stock in a transaction that occurred on 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 transaction, the insider now owns 117,432 shares in the company, valued at approximately $2,598,770.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Dafna Sarnoff sold 4,301 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the sale, the chief marketing officer now directly owns 163,798 shares in the company, valued at $3,773,905.92. The disclosure for this sale can be found here. In the last three months, insiders sold 113,793 shares of company stock worth $2,523,342. 15.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CARG has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. Needham & Company LLC boosted their price target on CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, UBS Group upped their price target on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.90.

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.