CarGurus (NASDAQ:CARG) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market perform rating on shares of CarGurus (NASDAQ:CARG) in a report published on Wednesday, Benzinga reports.

Several other analysts also recently weighed in on CARG. UBS Group raised their target price on CarGurus from $26.00 to $27.00 and gave the company a neutral rating in a research note on Friday, March 15th. Needham & Company LLC raised their target price on CarGurus from $22.00 to $24.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Finally, Oppenheimer raised their target price on CarGurus from $26.00 to $30.00 and gave the company an outperform rating in a research note on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $24.90.

CarGurus Trading Down 1.7 %

Shares of NASDAQ CARG opened at $21.22 on Wednesday. The stock has a fifty day moving average price of $22.94 and a 200 day moving average price of $21.74. The company has a market cap of $2.28 billion, a P/E ratio of 117.89, a P/E/G ratio of 1.32 and a beta of 1.58. CarGurus has a 12-month low of $15.34 and a 12-month high of $24.64.

CarGurus (NASDAQ:CARG) last announced its earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company’s revenue was down 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. On average, sell-side analysts forecast that CarGurus will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total value of $378,448.56. Following the completion of the transaction, the chief operating officer now directly owns 548,845 shares in the company, valued at $11,756,259.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CarGurus news, CMO Dafna Sarnoff sold 4,301 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the transaction, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $11,756,259.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,793 shares of company stock worth $2,523,342. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On CarGurus

A number of large investors have recently bought and sold shares of the business. Scharf Investments LLC bought a new position in CarGurus in the first quarter worth about $203,000. Nomura Holdings Inc. bought a new position in CarGurus in the fourth quarter worth about $412,000. PNC Financial Services Group Inc. lifted its holdings in CarGurus by 87.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock worth $133,000 after acquiring an additional 2,568 shares during the last quarter. Wellington Management Group LLP lifted its holdings in CarGurus by 39.6% in the fourth quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock worth $137,856,000 after acquiring an additional 1,619,076 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in CarGurus by 4.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,793 shares of the company’s stock worth $1,300,000 after acquiring an additional 2,089 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.