Weekly Analysts’ Ratings Updates for CarGurus (CARG)

CarGurus (NASDAQ: CARG) recently received a number of ratings updates from brokerages and research firms:

  • 11/15/2022 – CarGurus had its price target lowered by analysts at DA Davidson to $11.50.
  • 11/15/2022 – CarGurus had its price target lowered by analysts at BTIG Research to $19.00.
  • 11/10/2022 – CarGurus had its price target lowered by analysts at Oppenheimer Holdings Inc. from $26.00 to $16.00.
  • 11/9/2022 – CarGurus had its price target lowered by analysts at Royal Bank of Canada from $35.00 to $19.00. They now have an “outperform” rating on the stock.
  • 11/9/2022 – CarGurus had its price target lowered by analysts at Raymond James from $20.00 to $16.00. They now have an “outperform” rating on the stock.
  • 11/9/2022 – CarGurus had its price target lowered by analysts at DA Davidson from $30.00 to $11.50. They now have a “neutral” rating on the stock.
  • 11/9/2022 – CarGurus had its price target lowered by analysts at Needham & Company LLC from $21.00 to $16.00. They now have a “buy” rating on the stock.
  • 11/9/2022 – CarGurus had its price target lowered by analysts at BTIG Research from $25.00 to $19.00.
  • 11/9/2022 – CarGurus had its price target lowered by analysts at Truist Financial Co. from $31.00 to $22.00.
  • 10/18/2022 – CarGurus had its price target lowered by analysts at Truist Financial Co. from $38.00 to $31.00. They now have a “buy” rating on the stock.
  • 10/6/2022 – CarGurus had its price target lowered by analysts at Jefferies Financial Group Inc. from $32.00 to $20.00. They now have a “buy” rating on the stock.
  • 9/30/2022 – CarGurus had its price target lowered by analysts at Raymond James from $28.00 to $20.00. They now have an “outperform” rating on the stock.

CarGurus Trading Down 2.9 %

Shares of NASDAQ CARG opened at $13.20 on Friday. CarGurus, Inc. has a 1-year low of $9.14 and a 1-year high of $50.03. The firm has a market capitalization of $1.57 billion, a P/E ratio of -11.38, a P/E/G ratio of 2.38 and a beta of 1.63. The firm’s 50-day moving average price is $14.21 and its 200-day moving average price is $19.55.

CarGurus (NASDAQ:CARGGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.23. The business had revenue of $426.45 million for the quarter, compared to analysts’ expectations of $463.18 million. CarGurus had a net margin of 3.76% and a return on equity of 20.56%. Equities research analysts forecast that CarGurus, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On CarGurus

A number of large investors have recently added to or reduced their stakes in CARG. Wellington Management Group LLP lifted its position in CarGurus by 30.4% during the 1st quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company’s stock valued at $599,905,000 after acquiring an additional 3,294,532 shares during the period. Par Capital Management Inc. grew its stake in shares of CarGurus by 53.5% in the third quarter. Par Capital Management Inc. now owns 6,295,000 shares of the company’s stock worth $89,200,000 after acquiring an additional 2,195,233 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of CarGurus in the first quarter worth approximately $53,756,000. Nomura Holdings Inc. grew its stake in shares of CarGurus by 580.8% in the third quarter. Nomura Holdings Inc. now owns 1,349,223 shares of the company’s stock worth $19,184,000 after acquiring an additional 1,151,044 shares during the period. Finally, Federated Hermes Inc. grew its position in CarGurus by 141.9% during the third quarter. Federated Hermes Inc. now owns 1,589,532 shares of the company’s stock valued at $22,524,000 after buying an additional 932,402 shares during the period. Institutional investors own 86.18% of the company’s stock.

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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