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

Shares of CarGurus, Inc. (NASDAQ:CARG) have earned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $24.90.

CARG has been the subject of a number of analyst reports. Oppenheimer raised their price objective on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. UBS Group boosted their price objective on shares of CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Needham & Company LLC increased 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.

Insider Buying and Selling

In other CarGurus news, insider Andrea Lee Eldridge sold 22,358 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $494,782.54. Following the completion of the sale, the insider now directly owns 117,432 shares in the company, valued at approximately $2,598,770.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other CarGurus news, insider Andrea Lee Eldridge sold 22,358 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the transaction, the insider now directly owns 117,432 shares of the company’s stock, valued at $2,598,770.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Javier Esquivel Zamora sold 23,557 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.13, for a total value of $521,316.41. Following the sale, the general counsel now owns 111,589 shares of the company’s stock, valued at $2,469,464.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,793 shares of company stock worth $2,523,342. 15.70% of the stock is owned by insiders.

Institutional Trading of CarGurus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CARG. SG Americas Securities LLC bought a new stake in shares of CarGurus during the 3rd quarter valued at $742,000. Exchange Traded Concepts LLC purchased a new position in CarGurus during the third quarter valued at $30,000. Harbor Capital Advisors Inc. grew its holdings in CarGurus by 23.3% during the third quarter. Harbor Capital Advisors Inc. now owns 19,294 shares of the company’s stock valued at $338,000 after purchasing an additional 3,649 shares during the period. Robeco Institutional Asset Management B.V. increased its position in CarGurus by 667.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 110,446 shares of the company’s stock worth $1,935,000 after buying an additional 96,057 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of CarGurus by 5.1% in the third quarter. Raymond James & Associates now owns 403,793 shares of the company’s stock worth $7,074,000 after buying an additional 19,636 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Down 1.6 %

Shares of CARG opened at $22.85 on Tuesday. CarGurus has a 52 week low of $15.34 and a 52 week high of $24.64. The stock has a market cap of $2.45 billion, a P/E ratio of 126.94, a P/E/G ratio of 1.41 and a beta of 1.58. The business’s 50 day moving average price is $22.86 and its 200-day moving average price is $22.07.

CarGurus (NASDAQ:CARG) last released its earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company’s quarterly revenue was down 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. On average, equities analysts anticipate that CarGurus will post 0.94 EPS for the current year.

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.