CarGurus, Inc. (NASDAQ:CARG) Given Consensus Rating of “Buy” by Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG – Get Rating) have received a consensus rating of “Buy” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $49.27.

CARG has been the topic of several recent research reports. Raymond James increased 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. Truist Financial increased their target price on shares of CarGurus from $44.00 to $58.00 in a report on Monday, February 28th. Royal Bank of Canada increased their target price on shares of CarGurus from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, March 10th. Needham & Company LLC raised their price target on shares of CarGurus from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, February 25th. Finally, Jefferies Financial Group raised shares of CarGurus from a “hold” rating to a “buy” rating and raised their price target for the stock from $42.00 to $45.00 in a report on Friday, January 7th.

CarGurus stock opened at $35.33 on Friday. The firm’s fifty day moving average price is $40.67 and its 200-day moving average price is $36.54. The stock has a market cap of $4.17 billion, a P/E ratio of -1,766.50, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. CarGurus has a fifty-two week low of $23.15 and a fifty-two week high of $50.03.

CarGurus (NASDAQ:CARG – Get Rating) last released its earnings results on Thursday, February 24th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. CarGurus had a net margin of 11.48% and a return on equity of 23.53%. The company had revenue of $339.34 million for the quarter, compared to analyst estimates of $279.91 million. During the same quarter last year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 123.9% compared to the same quarter last year. On average, equities research analysts forecast that CarGurus will post 1.05 EPS for the current year.

In related news, COO Samuel Zales sold 11,669 shares of CarGurus stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $45.00, for a total transaction of $525,105.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yann Bruno Gellot sold 1,567 shares of CarGurus stock in a transaction dated Thursday, February 3rd. The shares were sold at an average price of $33.01, for a total transaction of $51,726.67. The disclosure for this sale can be found here. Insiders have sold a total of 42,231 shares of company stock worth $1,719,827 in the last ninety days. Insiders own 21.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio lifted its position in CarGurus by 111.4% during the 1st quarter. Strs Ohio now owns 7,400 shares of the company’s stock valued at $314,000 after acquiring an additional 3,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CarGurus by 86.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,174 shares of the company’s stock worth $814,000 after buying an additional 8,869 shares during the last quarter. Virginia Retirement Systems ET AL raised its holdings in CarGurus by 14.7% in the first quarter. Virginia Retirement Systems ET AL now owns 56,200 shares of the company’s stock worth $2,386,000 after buying an additional 7,200 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in CarGurus in the first quarter worth about $254,000. Finally, Xponance Inc. purchased a new position in CarGurus in the first quarter worth about $214,000. 94.43% of the stock is owned by institutional investors.

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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