CarGurus (NASDAQ:CARG) Sets New 1-Year High at $25.62

CarGurus, Inc. (NASDAQ:CARGGet Free Report)’s stock price hit a new 52-week high on Thursday . The company traded as high as $25.62 and last traded at $25.62, with a volume of 181709 shares traded. The stock had previously closed at $24.88.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CARG shares. UBS Group raised their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JMP Securities raised CarGurus from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Friday. Royal Bank of Canada raised their target price on CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Finally, Oppenheimer boosted their target price on shares of CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and an average target price of $26.13.

View Our Latest Analysis on CARG

CarGurus Price Performance

The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 93.54, a price-to-earnings-growth ratio of 1.44 and a beta of 1.55. The stock’s fifty day moving average price is $23.27 and its 200-day moving average price is $23.08.

CarGurus (NASDAQ:CARGGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.29 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. As a group, equities research analysts predict that CarGurus, Inc. will post 0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the sale, the chief marketing officer now directly owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $25.00, for a total transaction of $167,000.00. Following the completion of the sale, the general counsel now directly owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the sale, the chief marketing officer now directly owns 163,798 shares of the company’s stock, valued at approximately $3,773,905.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,558 shares of company stock worth $2,468,590. 17.20% of the stock is currently owned by company insiders.

Institutional Trading of CarGurus

Several large investors have recently added to or reduced their stakes in CARG. Prevatt Capital Ltd acquired a new stake in shares of CarGurus in the 4th quarter valued at $24,160,000. Raymond James & Associates lifted its position in shares of CarGurus by 12.0% in the fourth quarter. Raymond James & Associates now owns 452,182 shares of the company’s stock worth $10,925,000 after buying an additional 48,389 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of CarGurus by 207.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,730 shares of the company’s stock worth $7,097,000 after buying an additional 198,321 shares during the last quarter. Cullinan Associates Inc. bought a new stake in shares of CarGurus during the 4th quarter worth about $1,377,000. Finally, Pacer Advisors Inc. increased its holdings in shares of CarGurus by 20.3% during the 4th quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock valued at $48,164,000 after acquiring an additional 336,245 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

CarGurus Company Profile

(Get Free Report)

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.

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