CarGurus, Inc. (NASDAQ:CARG) Receives $36.95 Consensus Target Price from Analysts

CarGurus, Inc. (NASDAQ:CARG) has received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $36.95.

Several equities analysts recently commented on CARG shares. Needham & Company LLC dropped their price objective on CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. UBS Group upped their price objective on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Oppenheimer dropped their price objective on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of CarGurus in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. downgraded CarGurus from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th.

Insider Activity at CarGurus

In other CarGurus news, General Counsel Javier Esquivel Zamora sold 12,265 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total value of $384,753.05. Following the transaction, the general counsel now directly owns 102,723 shares in the company, valued at $3,222,420.51. This represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the company’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the transaction, the chief executive officer now owns 129,790 shares in the company, valued at $3,469,286.70. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,335 shares of company stock worth $1,457,176. 16.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarGurus

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of CarGurus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company’s stock worth $284,909,000 after purchasing an additional 93,722 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CarGurus by 12.7% in the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company’s stock valued at $234,560,000 after acquiring an additional 906,830 shares in the last quarter. Invesco Ltd. lifted its position in shares of CarGurus by 340.5% in the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company’s stock valued at $46,808,000 after acquiring an additional 1,242,076 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after purchasing an additional 957,035 shares during the last quarter. Finally, Prevatt Capital Ltd increased its stake in CarGurus by 3.7% during the first quarter. Prevatt Capital Ltd now owns 1,400,000 shares of the company’s stock worth $40,782,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Trading Up 0.7%

CarGurus stock opened at $31.98 on Wednesday. CarGurus has a 12 month low of $21.65 and a 12 month high of $41.33. The business’s 50 day simple moving average is $29.30 and its 200 day simple moving average is $33.52. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 177.68, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. CarGurus’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that CarGurus will post 1.41 earnings per share for the current fiscal year.

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.