CarGurus (CARG) Scheduled to Post Earnings on Monday

CarGurus (NASDAQ:CARGGet Rating) will be announcing its earnings results after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of $0.29 per share for the quarter. CarGurus has set its Q2 2022 guidance at $0.26-$0.29 EPS and its Q2 guidance at $0.26-0.29 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

CarGurus (NASDAQ:CARGGet Rating) last announced its earnings results on Monday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). 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 firm’s revenue was up 151.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, analysts expect CarGurus to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CarGurus Stock Up 1.5 %

NASDAQ:CARG opened at $25.69 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of -34.72, a P/E/G ratio of 3.31 and a beta of 1.56. CarGurus has a fifty-two week low of $20.15 and a fifty-two week high of $50.03. The firm’s 50 day moving average is $23.60 and its two-hundred day moving average is $31.50.

Analysts Set New Price Targets

A number of research firms have weighed in on CARG. JMP Securities began coverage on shares of CarGurus in a research note on Thursday, June 30th. They set a “market perform” rating on the stock. Raymond James cut their price target on shares of CarGurus from $52.00 to $34.00 in a research note on Tuesday, May 10th. Royal Bank of Canada cut their price target on shares of CarGurus from $56.00 to $45.00 in a research note on Tuesday, May 10th. Benchmark cut their price target on shares of CarGurus from $63.00 to $50.00 in a research note on Tuesday, May 10th. Finally, Oppenheimer cut their price target on shares of CarGurus from $45.00 to $38.00 in a research note on Tuesday, May 10th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.45.

Insider Activity

In related news, COO Samuel Zales sold 17,707 shares of CarGurus stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $25.02, for a total transaction of $443,029.14. Following the sale, the chief operating officer now owns 392,587 shares of the company’s stock, valued at approximately $9,822,526.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sawtooth Solutions LLC purchased a new stake in CarGurus during the 1st quarter worth $226,000. Avalon Investment & Advisory increased its stake in CarGurus by 12.4% during the 1st quarter. Avalon Investment & Advisory now owns 177,582 shares of the company’s stock worth $7,540,000 after buying an additional 19,656 shares during the period. Virtu Financial LLC increased its stake in CarGurus by 17.7% during the 1st quarter. Virtu Financial LLC now owns 7,257 shares of the company’s stock worth $308,000 after buying an additional 1,093 shares during the period. Point72 Hong Kong Ltd purchased a new stake in CarGurus during the 1st quarter worth $236,000. Finally, Quantbot Technologies LP purchased a new stake in CarGurus during the 1st quarter worth $332,000.

About CarGurus

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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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Earnings History for CarGurus (NASDAQ:CARG)

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