CarGurus, Inc. (NASDAQ:CARG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of CarGurus, Inc. (NASDAQ:CARGGet Rating) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $34.18.

A number of equities analysts have weighed in on CARG shares. DA Davidson lowered their price objective on CarGurus from $34.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 9th. Benchmark lowered their price objective on CarGurus to $37.00 in a research note on Monday, August 15th. JMP Securities started coverage on CarGurus in a research note on Thursday, June 30th. They set a “market perform” rating on the stock. Needham & Company LLC lowered their price objective on CarGurus from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Finally, BTIG Research reduced their target price on CarGurus to $30.00 in a research report on Monday, August 15th.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 17,707 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $25.02, for a total value of $443,029.14. Following the sale, the chief operating officer now owns 392,587 shares in the company, valued at approximately $9,822,526.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Several institutional investors and hedge funds have recently modified their holdings of CARG. Exchange Traded Concepts LLC acquired a new position in CarGurus during the 1st quarter worth $47,000. Counterpoint Mutual Funds LLC acquired a new position in CarGurus during the 1st quarter worth $68,000. Rosenberg Matthew Hamilton acquired a new position in CarGurus during the 2nd quarter worth $41,000. Penserra Capital Management LLC acquired a new position in CarGurus during the 1st quarter worth $117,000. Finally, Convergence Investment Partners LLC acquired a new position in CarGurus during the 1st quarter worth $136,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

CarGurus Price Performance

Shares of NASDAQ:CARG opened at $16.23 on Monday. The business’s 50 day moving average price is $21.10 and its 200-day moving average price is $28.13. The firm has a market capitalization of $1.93 billion, a PE ratio of -15.31, a P/E/G ratio of 4.03 and a beta of 1.61. CarGurus has a 1 year low of $15.91 and a 1 year high of $50.03.

CarGurus (NASDAQ:CARGGet Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $511.20 million for the quarter, compared to analyst estimates of $507.31 million. CarGurus had a positive return on equity of 20.37% and a negative net margin of 0.90%. The business’s revenue was up 134.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. As a group, analysts expect that CarGurus will post 0.31 earnings per share for the current year.

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.

Recommended Stories

Analyst Recommendations for CarGurus (NASDAQ:CARG)

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.