CarGurus (NASDAQ:CARG) Price Target Lowered to $43.00 at BTIG Research

CarGurus (NASDAQ:CARGGet Rating) had its price objective reduced by equities research analysts at BTIG Research from $49.00 to $43.00 in a report released on Tuesday, The Fly reports. BTIG Research’s target price would indicate a potential upside of 44.15% from the company’s current price.

A number of other research firms have also recently commented on CARG. Oppenheimer lowered their target price on CarGurus from $45.00 to $38.00 in a research note on Tuesday. DA Davidson boosted their price objective on CarGurus from $42.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, March 4th. Raymond James lowered their price objective on CarGurus from $52.00 to $34.00 in a research note on Tuesday. Piper Sandler boosted their price objective on CarGurus from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, March 30th. Finally, Truist Financial boosted their price objective on CarGurus from $44.00 to $58.00 in a research note on Monday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $45.67.

NASDAQ CARG opened at $29.83 on Tuesday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -1,491.50, a PEG ratio of 2.38 and a beta of 1.54. CarGurus has a one year low of $23.86 and a one year high of $50.03. The business’s fifty day moving average is $39.89 and its 200-day moving average is $36.58.

CarGurus (NASDAQ:CARGGet Rating) last released its earnings results on Monday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $392.66 million. CarGurus had a return on equity of 23.53% and a net margin of 11.48%. The business’s revenue for the quarter was up 151.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. Equities research analysts forecast that CarGurus will post 1.03 earnings per share for the current fiscal year.

In other news, COO Samuel Zales sold 11,669 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $45.00, for a total transaction of $525,105.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scot Christopher Fredo sold 2,269 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $44.55, for a total value of $101,083.95. Following the transaction, the chief financial officer now directly owns 123,822 shares of the company’s stock, valued at approximately $5,516,270.10. The disclosure for this sale can be found here. Insiders have sold a total of 39,838 shares of company stock valued at $1,639,171 in the last ninety days. Insiders own 21.72% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CARG. First Mercantile Trust Co. purchased a new position in shares of CarGurus during the third quarter worth about $26,000. First Quadrant L P CA purchased a new stake in CarGurus in the fourth quarter worth approximately $40,000. Exchange Traded Concepts LLC purchased a new stake in CarGurus in the first quarter worth approximately $47,000. Counterpoint Mutual Funds LLC purchased a new stake in CarGurus in the first quarter worth approximately $68,000. Finally, Advisor Group Holdings Inc. boosted its stake in CarGurus by 35.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,566 shares of the company’s stock worth $120,000 after buying an additional 938 shares in the last quarter.

CarGurus Company Profile (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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