CarGurus, Inc. (NASDAQ:CARG) Given Average Rating of “Moderate Buy” by Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $29.25.

A number of equities research analysts have recently weighed in on CARG shares. JMP Securities boosted their price target on CarGurus from $30.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Monday, August 12th. Royal Bank of Canada lifted their price objective on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Oppenheimer upped their target price on CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Citigroup lifted their price target on CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Finally, B. Riley increased their price objective on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 30,000 shares of CarGurus stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $750,000.00. Following the completion of the transaction, the chief operating officer now owns 518,845 shares of the company’s stock, valued at $12,971,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total transaction of $99,091.98. Following the transaction, the chief technology officer now directly owns 217,374 shares of the company’s stock, valued at $5,414,786.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 30,000 shares of CarGurus stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief operating officer now owns 518,845 shares in the company, valued at approximately $12,971,125. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,994 shares of company stock worth $2,396,053. 17.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in CarGurus during the 4th quarter worth approximately $32,000. Yousif Capital Management LLC increased its position in shares of CarGurus by 7.1% during the fourth quarter. Yousif Capital Management LLC now owns 46,122 shares of the company’s stock worth $1,114,000 after purchasing an additional 3,060 shares in the last quarter. Victory Capital Management Inc. raised its stake in CarGurus by 11.0% in the 4th quarter. Victory Capital Management Inc. now owns 89,156 shares of the company’s stock valued at $2,154,000 after purchasing an additional 8,827 shares during the last quarter. M&T Bank Corp lifted its holdings in CarGurus by 16.3% in the 4th quarter. M&T Bank Corp now owns 121,015 shares of the company’s stock valued at $2,924,000 after purchasing an additional 16,963 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in CarGurus during the 4th quarter worth $217,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Down 0.1 %

Shares of NASDAQ:CARG opened at $28.98 on Monday. The firm has a 50 day moving average of $25.99 and a 200 day moving average of $24.34. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 103.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.57. CarGurus has a 52 week low of $16.70 and a 52 week high of $29.40.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $218.69 million for the quarter, compared to the consensus estimate of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. On average, sell-side analysts expect that CarGurus will post 1.18 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.