Brokerages Anticipate CarGurus, Inc. (NASDAQ:CARG) to Announce $0.35 Earnings Per Share

Analysts expect CarGurus, Inc. (NASDAQ:CARGGet Rating) to post earnings per share (EPS) of $0.35 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for CarGurus’ earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.43. CarGurus reported earnings per share of $0.33 during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The firm is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that CarGurus will report full year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.34 to $2.08. For the next financial year, analysts expect that the firm will post earnings of $2.12 per share, with EPS estimates ranging from $1.36 to $3.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover CarGurus.

CarGurus (NASDAQ:CARGGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.10. The company had revenue of $339.34 million for the quarter, compared to analysts’ expectations of $279.91 million. CarGurus had a net margin of 11.48% and a return on equity of 23.53%. CarGurus’s revenue was up 123.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS.

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of CarGurus from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 30th. TheStreet lowered shares of CarGurus from a “b” rating to a “c” rating in a research report on Tuesday, March 22nd. Needham & Company LLC boosted their price objective on shares of CarGurus from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 25th. Zacks Investment Research lowered shares of CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 18th. Finally, Raymond James upped their target price on shares of CarGurus from $41.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, February 28th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, CarGurus presently has an average rating of “Buy” and an average price target of $48.25.

In other news, VP Yann Bruno Gellot sold 1,567 shares of the stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $33.01, for a total transaction of $51,726.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samuel Zales sold 11,669 shares of the firm’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $45.00, for a total value of $525,105.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,231 shares of company stock valued at $1,615,227. Company insiders own 21.72% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Mercantile Trust Co. bought a new position in CarGurus during the third quarter worth $26,000. First Quadrant L P CA bought a new position in CarGurus during the fourth quarter worth $40,000. Strs Ohio bought a new position in CarGurus during the third quarter worth $109,000. Advisor Group Holdings Inc. lifted its stake in CarGurus by 35.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,566 shares of the company’s stock worth $120,000 after purchasing an additional 938 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in CarGurus by 9.5% during the fourth quarter. Lazard Asset Management LLC now owns 4,190 shares of the company’s stock worth $140,000 after purchasing an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 94.43% of the company’s stock.

Shares of NASDAQ CARG traded down $0.12 during trading on Monday, hitting $40.51. 639,541 shares of the company were exchanged, compared to its average volume of 1,217,230. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -2,025.50, a PEG ratio of 2.99 and a beta of 1.47. CarGurus has a 1 year low of $23.15 and a 1 year high of $50.03. The firm’s fifty day moving average price is $39.60 and its 200 day moving average price is $36.08.

About CarGurus (Get Rating)

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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