Analysts’ Weekly Ratings Updates for CarGurus (CARG)

Several analysts have recently updated their ratings and price targets for CarGurus (NASDAQ: CARG):

  • 6/1/2022 – CarGurus was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “
  • 5/26/2022 – CarGurus had its price target lowered by analysts at BTIG Research to $40.00.
  • 5/24/2022 – CarGurus had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $40.00 price target on the stock.
  • 5/16/2022 – CarGurus was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “
  • 5/10/2022 – CarGurus was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “
  • 5/10/2022 – CarGurus had its price target lowered by analysts at Royal Bank of Canada from $56.00 to $45.00.
  • 5/10/2022 – CarGurus had its price target lowered by analysts at Needham & Company LLC from $52.00 to $40.00.
  • 5/10/2022 – CarGurus had its price target lowered by analysts at Benchmark Co. from $63.00 to $50.00.
  • 5/10/2022 – CarGurus had its price target lowered by analysts at BTIG Research from $49.00 to $43.00.
  • 5/10/2022 – CarGurus had its price target lowered by analysts at Raymond James from $52.00 to $34.00.
  • 5/10/2022 – CarGurus had its price target lowered by analysts at Oppenheimer Holdings Inc. from $45.00 to $38.00.
  • 5/2/2022 – CarGurus was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “

Shares of CARG opened at $26.45 on Friday. The stock’s 50 day moving average is $33.50 and its two-hundred day moving average is $35.14. The firm has a market cap of $3.13 billion, a P/E ratio of -35.74, a PEG ratio of 3.28 and a beta of 1.56. CarGurus, Inc. has a 12 month low of $20.15 and a 12 month high of $50.03.

CarGurus (NASDAQ:CARGGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $430.60 million for the quarter, compared to analyst estimates of $392.66 million. CarGurus had a return on equity of 22.94% and a net margin of 2.05%. The business’s revenue was up 151.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, analysts anticipate that CarGurus, Inc. will post 0.6 earnings per share for the current fiscal year.

In other CarGurus news, CFO Scot Christopher Fredo sold 2,269 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $44.55, for a total transaction of $101,083.95. Following the transaction, the chief financial officer now owns 123,822 shares of the company’s stock, valued at $5,516,270.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel Zales sold 1,667 shares of the business’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $45.00, for a total value of $75,015.00. The disclosure for this sale can be found here. Insiders sold 14,897 shares of company stock worth $617,716 over the last ninety days. Corporate insiders own 14.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. raised its position in CarGurus by 3.6% in the third quarter. First Republic Investment Management Inc. now owns 8,285 shares of the company’s stock valued at $260,000 after purchasing an additional 285 shares during the period. Ironwood Investment Management LLC raised its position in CarGurus by 2.5% in the fourth quarter. Ironwood Investment Management LLC now owns 12,197 shares of the company’s stock valued at $410,000 after purchasing an additional 296 shares during the period. Arizona State Retirement System raised its position in CarGurus by 1.4% in the third quarter. Arizona State Retirement System now owns 21,557 shares of the company’s stock valued at $677,000 after purchasing an additional 306 shares during the period. Lazard Asset Management LLC raised its position in CarGurus by 9.5% in the fourth quarter. Lazard Asset Management LLC now owns 4,190 shares of the company’s stock valued at $140,000 after purchasing an additional 365 shares during the period. Finally, Comerica Bank raised its position in CarGurus by 1.3% in the fourth quarter. Comerica Bank now owns 39,155 shares of the company’s stock valued at $1,171,000 after purchasing an additional 509 shares during the period.

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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