CarGurus (NASDAQ:CARG) Price Target Cut to $25.00 by Analysts at BTIG Research

CarGurus (NASDAQ:CARGGet Rating) had its target price decreased by BTIG Research from $30.00 to $25.00 in a report issued on Tuesday, The Fly reports. BTIG Research currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. 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. Oppenheimer dropped their price target on shares of CarGurus from $32.00 to $23.00 in a research note on Friday, September 9th. Needham & Company LLC dropped their price target on shares of CarGurus from $27.00 to $21.00 and set a buy rating for the company in a research note on Tuesday. DA Davidson dropped their price target on shares of CarGurus from $34.00 to $30.00 and set a neutral rating for the company in a research note on Tuesday, August 9th. Finally, Truist Financial dropped their price target on shares of CarGurus from $44.00 to $38.00 and set a buy rating for the company in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $33.18.

CarGurus Stock Performance

NASDAQ CARG opened at $15.30 on Tuesday. CarGurus has a one year low of $15.10 and a one year high of $50.03. The company’s 50 day moving average price is $20.81 and its 200 day moving average price is $27.86. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -14.43, a PEG ratio of 4.03 and a beta of 1.61.

CarGurus (NASDAQ:CARGGet Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CarGurus had a negative net margin of 0.90% and a positive return on equity of 20.37%. The firm had revenue of $511.20 million for the quarter, compared to analyst estimates of $507.31 million. During the same quarter last year, the firm posted $0.29 earnings per share. CarGurus’s revenue for the quarter was up 134.7% compared to the same quarter last year. Sell-side analysts forecast that CarGurus will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 17,707 shares of the business’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $25.02, for a total value of $443,029.14. Following the sale, 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 14.80% of the company’s stock.

Institutional Trading of CarGurus

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in CarGurus by 30.4% during the 1st quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company’s stock worth $599,905,000 after buying an additional 3,294,532 shares during the period. The Manufacturers Life Insurance Company grew its stake in CarGurus by 1.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,312,123 shares of the company’s stock valued at $312,940,000 after acquiring an additional 115,026 shares in the last quarter. Contour Asset Management LLC grew its stake in CarGurus by 34.8% during the 4th quarter. Contour Asset Management LLC now owns 4,815,767 shares of the company’s stock valued at $162,002,000 after acquiring an additional 1,241,975 shares in the last quarter. Eaton Vance Management grew its stake in CarGurus by 9.0% during the 1st quarter. Eaton Vance Management now owns 2,425,550 shares of the company’s stock valued at $102,989,000 after acquiring an additional 199,425 shares in the last quarter. Finally, State Street Corp grew its stake in CarGurus by 2.0% during the 2nd quarter. State Street Corp now owns 1,974,247 shares of the company’s stock valued at $42,427,000 after acquiring an additional 38,437 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

CarGurus Company Profile

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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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