CarGurus, Inc. (NASDAQ:CARG) Receives $38.13 Average Target Price from Brokerages

CarGurus, Inc. (NASDAQ:CARG) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $38.1250.

Several research firms have weighed in on CARG. Citizens Jmp downgraded CarGurus from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 2nd. Citigroup lowered their target price on shares of CarGurus from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, July 3rd. Gordon Haskett initiated coverage on shares of CarGurus in a research note on Monday, July 14th. They set a “hold” rating and a $35.00 target price for the company. Oppenheimer reduced their price target on shares of CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Finally, UBS Group boosted their price target on shares of CarGurus from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th.

Insider Activity at CarGurus

In other CarGurus news, General Counsel Javier Zamora sold 6,154 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total transaction of $215,390.00. Following the completion of the transaction, the general counsel owned 92,807 shares in the company, valued at $3,248,245. This trade represents a 6.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Zachary Emerson Hallowell sold 4,369 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $144,570.21. Following the sale, the chief executive officer directly owned 121,584 shares in the company, valued at $4,023,214.56. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,049 shares of company stock valued at $1,616,397 in the last 90 days. 16.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CarGurus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. bought a new stake in shares of CarGurus in the 2nd quarter valued at approximately $367,000. Public Sector Pension Investment Board raised its holdings in CarGurus by 3.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 288,514 shares of the company’s stock valued at $9,657,000 after buying an additional 9,586 shares during the period. Headlands Technologies LLC lifted its position in CarGurus by 295.0% in the second quarter. Headlands Technologies LLC now owns 28,038 shares of the company’s stock worth $938,000 after buying an additional 20,939 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in CarGurus by 186.6% in the second quarter. Tower Research Capital LLC TRC now owns 10,318 shares of the company’s stock worth $345,000 after buying an additional 6,718 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its stake in CarGurus by 9.5% during the second quarter. State of Tennessee Department of Treasury now owns 52,480 shares of the company’s stock worth $1,757,000 after buying an additional 4,567 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of CARG stock opened at $31.74 on Monday. The stock has a fifty day simple moving average of $32.67 and a two-hundred day simple moving average of $31.79. The firm has a market capitalization of $3.15 billion, a PE ratio of 25.80, a PEG ratio of 1.54 and a beta of 1.42. CarGurus has a 52-week low of $24.65 and a 52-week high of $41.33.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The firm had revenue of $234.03 million during the quarter, compared to analyst estimates of $232.29 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, sell-side analysts forecast that CarGurus will post 1.41 EPS for the current fiscal 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.