Raymond James Raises CarGurus (NASDAQ:CARG) Price Target to $20.00

CarGurus (NASDAQ:CARG – Get Rating) had its target price hoisted by Raymond James from $16.00 to $20.00 in a research note released on Wednesday, The Fly reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler cut shares of CarGurus from a neutral rating to an underweight rating and set a $12.00 target price for the company. in a report on Thursday, February 16th. Needham & Company LLC dropped their target price on shares of CarGurus from $21.00 to $16.00 and set a buy rating for the company in a report on Wednesday, November 9th. Truist Financial dropped their target price on shares of CarGurus from $31.00 to $22.00 in a report on Wednesday, November 9th. Royal Bank of Canada dropped their target price on shares of CarGurus from $35.00 to $19.00 and set an outperform rating for the company in a report on Wednesday, November 9th. Finally, Oppenheimer dropped their target price on shares of CarGurus from $26.00 to $16.00 in a report on Thursday, November 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, CarGurus currently has a consensus rating of Moderate Buy and a consensus price target of $20.82.

CarGurus Stock Down 1.3 %

NASDAQ CARG opened at $17.46 on Wednesday. The stock has a market capitalization of $2.08 billion, a P/E ratio of -62.64, a P/E/G ratio of 14.24 and a beta of 1.57. CarGurus has a 52-week low of $9.14 and a 52-week high of $45.68. The firm has a 50-day moving average price of $16.21 and a 200 day moving average price of $15.55.

Institutional Trading of CarGurus

Several large investors have recently modified their holdings of CARG. Great West Life Assurance Co. Can boosted its position in CarGurus by 23.3% during the third quarter. Great West Life Assurance Co. Can now owns 4,928 shares of the company’s stock worth $69,000 after acquiring an additional 932 shares during the last quarter. Point72 Middle East FZE acquired a new stake in CarGurus during the fourth quarter worth approximately $101,000. Point72 Hong Kong Ltd boosted its position in CarGurus by 23.4% during the third quarter. Point72 Hong Kong Ltd now owns 8,013 shares of the company’s stock worth $114,000 after acquiring an additional 1,522 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in CarGurus during the first quarter worth approximately $117,000. Finally, Strs Ohio boosted its position in CarGurus by 17.6% during the third quarter. Strs Ohio now owns 8,700 shares of the company’s stock worth $123,000 after acquiring an additional 1,300 shares during the last quarter. 89.37% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Company Profile

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Cargurus, Inc engages in the provision of online auto shopping. The firm offers proprietary technology, search algorithms and data analytics to analyze new and used car listings. It operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services and other revenues from customers within the United States.