CarGurus, Inc. (NASDAQ:CARG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

CarGurus, Inc. (NASDAQ:CARGGet Rating) has been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $34.18.

CARG has been the topic of a number of analyst reports. Oppenheimer dropped their target price on CarGurus from $32.00 to $23.00 in a research report on Friday, September 9th. Benchmark dropped their target price on CarGurus to $37.00 in a research report on Monday, August 15th. Needham & Company LLC dropped their target price on CarGurus from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Raymond James decreased their price target on CarGurus from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th. Finally, Royal Bank of Canada decreased their price target on CarGurus from $45.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th.

CarGurus Price Performance

NASDAQ:CARG opened at $16.23 on Monday. The business’s 50-day moving average is $21.10 and its two-hundred day moving average is $28.13. CarGurus has a 12 month low of $15.91 and a 12 month high of $50.03. The firm has a market capitalization of $1.93 billion, a PE ratio of -15.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.61.

CarGurus (NASDAQ:CARGGet Rating) last announced its earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CarGurus had a positive return on equity of 20.37% and a negative net margin of 0.90%. The business had revenue of $511.20 million for the quarter, compared to analyst estimates of $507.31 million. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 134.7% compared to the same quarter last year. Equities analysts anticipate that CarGurus will post 0.31 EPS for the current year.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 17,707 shares of CarGurus stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $25.02, for a total value of $443,029.14. Following the completion of the transaction, the chief operating officer now directly owns 392,587 shares in the company, valued at $9,822,526.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CarGurus

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in shares of CarGurus by 1.6% during the first quarter. Arizona State Retirement System now owns 21,989 shares of the company’s stock worth $934,000 after buying an additional 343 shares during the period. Meritage Portfolio Management boosted its position in shares of CarGurus by 10.3% during the first quarter. Meritage Portfolio Management now owns 6,900 shares of the company’s stock worth $293,000 after buying an additional 642 shares during the period. Macquarie Group Ltd. boosted its position in shares of CarGurus by 11.2% during the second quarter. Macquarie Group Ltd. now owns 8,148 shares of the company’s stock worth $175,000 after buying an additional 818 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in shares of CarGurus by 0.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 185,584 shares of the company’s stock worth $3,988,000 after buying an additional 825 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in shares of CarGurus by 16.8% during the second quarter. Point72 Hong Kong Ltd now owns 6,491 shares of the company’s stock worth $139,000 after buying an additional 934 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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