UBS Group Issues Pessimistic Forecast for CarGurus (NASDAQ:CARG) Stock Price

CarGurus (NASDAQ:CARG) had its target price cut by UBS Group from $36.00 to $29.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently weighed in on CARG. JMP Securities reduced their price target on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered shares of CarGurus from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Finally, Oppenheimer reduced their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.14.

CarGurus Trading Up 1.6 %

Shares of CarGurus stock opened at $27.00 on Thursday. CarGurus has a 1-year low of $21.18 and a 1-year high of $41.33. The firm has a fifty day simple moving average of $32.09 and a 200-day simple moving average of $34.11. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 150.01, a PEG ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The business had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. As a group, research analysts predict that CarGurus will post 1.41 earnings per share for the current year.

Insider Activity

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the sale, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,203 shares of company stock worth $1,158,978. Insiders own 17.20% of the company’s stock.

Institutional Trading of CarGurus

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. boosted its stake in CarGurus by 30.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 18,128 shares of the company’s stock worth $528,000 after acquiring an additional 4,190 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of CarGurus by 0.6% in the 1st quarter. Rhumbline Advisers now owns 236,783 shares of the company’s stock valued at $6,897,000 after buying an additional 1,496 shares during the period. Summit Global Investments increased its position in shares of CarGurus by 4.1% in the 1st quarter. Summit Global Investments now owns 32,735 shares of the company’s stock valued at $954,000 after buying an additional 1,275 shares in the last quarter. GAMMA Investing LLC raised its stake in CarGurus by 3,844.1% during the 1st quarter. GAMMA Investing LLC now owns 122,229 shares of the company’s stock worth $3,561,000 after buying an additional 119,130 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company’s stock worth $76,000 after acquiring an additional 2,267 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

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.