FY2022 EPS Estimates for CarGurus, Inc. (NASDAQ:CARG) Lowered by Analyst

CarGurus, Inc. (NASDAQ:CARGGet Rating) – Analysts at Oppenheimer decreased their FY2022 earnings estimates for CarGurus in a research note issued to investors on Wednesday, June 1st. Oppenheimer analyst J. Kelly now forecasts that the company will earn $0.48 per share for the year, down from their previous estimate of $0.57. Oppenheimer also issued estimates for CarGurus’ FY2023 earnings at $0.63 EPS.

Several other research firms have also commented on CARG. Benchmark cut their price target on shares of CarGurus from $63.00 to $50.00 in a report on Tuesday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of CarGurus in a research report on Tuesday, May 24th. Piper Sandler lifted their price target on CarGurus from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 30th. Raymond James lowered their target price on CarGurus from $52.00 to $34.00 in a research note on Tuesday, May 10th. Finally, Zacks Investment Research upgraded CarGurus from a “sell” rating to a “hold” rating in a report on Wednesday, June 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $43.50.

CARG stock opened at $25.47 on Monday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -34.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.56. CarGurus has a 12 month low of $20.15 and a 12 month high of $50.03. The company has a fifty day moving average price of $33.18 and a 200 day moving average price of $35.00.

CarGurus (NASDAQ:CARGGet Rating) last issued its earnings results on Monday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. CarGurus had a net margin of 2.05% and a return on equity of 22.94%. The company had revenue of $430.60 million for the quarter, compared to the consensus estimate of $392.66 million. During the same period in the previous year, the firm earned $0.24 earnings per share. CarGurus’s quarterly revenue was up 151.2% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in shares of CarGurus by 1.1% during the fourth quarter. Swiss National Bank now owns 176,900 shares of the company’s stock worth $5,951,000 after purchasing an additional 2,000 shares during the period. First Trust Advisors LP raised its stake in shares of CarGurus by 615.3% during the 4th quarter. First Trust Advisors LP now owns 140,171 shares of the company’s stock worth $4,715,000 after purchasing an additional 120,575 shares in the last quarter. Boston Trust Walden Corp bought a new stake in shares of CarGurus during the 4th quarter worth approximately $19,867,000. Avestar Capital LLC raised its stake in CarGurus by 65.9% in the 4th quarter. Avestar Capital LLC now owns 13,029 shares of the company’s stock valued at $438,000 after acquiring an additional 5,175 shares during the period. Finally, Atom Investors LP bought a new position in CarGurus during the 3rd quarter worth $638,000.

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $41.74, for a total value of $417,400.00. Following the sale, the chief operating officer now owns 403,403 shares of the company’s stock, valued at $16,838,041.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scot Christopher Fredo sold 2,269 shares of the 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 completion of the sale, the chief financial officer now directly owns 123,822 shares of the company’s stock, valued at approximately $5,516,270.10. The disclosure for this sale can be found here. Insiders have sold 14,897 shares of company stock valued at $617,716 over the last quarter. Insiders own 14.80% of the company’s stock.

About CarGurus (Get Rating)

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.

Further Reading

Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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