CarGurus (NASDAQ:CARG) Price Target Raised to $42.00

CarGurus (NASDAQ:CARG) had its price objective raised by JPMorgan Chase & Co. from $40.00 to $42.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CARG has been the topic of a number of other research reports. Royal Bank of Canada boosted their target price on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research note on Friday. B. Riley boosted their target price on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Finally, Oppenheimer boosted their target price on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.59.

CarGurus Trading Down 17.1 %

Shares of CARG stock opened at $31.15 on Friday. CarGurus has a 1-year low of $21.18 and a 1-year high of $41.33. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 173.07, a P/E/G ratio of 1.72 and a beta of 1.59. The stock’s fifty day simple moving average is $37.81 and its 200-day simple moving average is $33.83.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The firm had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. On average, sell-side analysts predict that CarGurus will post 1.41 EPS for the current year.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 20,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $378,194.60. Following the transaction, the chief marketing officer now directly owns 95,261 shares of the company’s stock, valued at $3,408,438.58. This represents a 9.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,388 shares of company stock valued at $2,204,338 over the last quarter. Insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of CarGurus by 16.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock worth $8,748,000 after purchasing an additional 34,555 shares during the last quarter. State Street Corp lifted its position in shares of CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after purchasing an additional 89,815 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of CarGurus during the 3rd quarter worth about $503,000. Finally, Los Angeles Capital Management LLC raised its holdings in CarGurus by 51.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after acquiring an additional 22,004 shares in the last quarter. Institutional investors and hedge funds 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.