CarGurus’ (CARG) “Market Perform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market perform rating on shares of CarGurus (NASDAQ:CARG) in a research note issued to investors on Wednesday, Benzinga reports.

A number of other analysts have also recently commented on the company. Oppenheimer lifted their target price on CarGurus from $26.00 to $30.00 and gave the stock an outperform rating in a research report on Tuesday, February 27th. UBS Group lifted their target price on CarGurus from $26.00 to $27.00 and gave the stock a neutral rating in a research report on Friday, March 15th. Finally, Needham & Company LLC lifted their target price on CarGurus from $22.00 to $24.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $24.90.

CarGurus Price Performance

CarGurus stock opened at $21.22 on Wednesday. CarGurus has a 1-year low of $15.34 and a 1-year high of $24.64. The stock has a market cap of $2.28 billion, a PE ratio of 117.89, a P/E/G ratio of 1.32 and a beta of 1.58. The stock’s fifty day moving average is $22.94 and its two-hundred day moving average is $21.74.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. During the same period last year, the firm earned $0.25 earnings per share. CarGurus’s quarterly revenue was down 22.2% on a year-over-year basis. On average, research analysts expect that CarGurus will post 0.94 earnings per share for the current fiscal year.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.22, for a total value of $392,582.96. Following the transaction, the chief operating officer now owns 564,609 shares in the company, valued at approximately $12,545,611.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CarGurus news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $22.22, for a total value of $392,582.96. Following the sale, the chief operating officer now owns 564,609 shares of the company’s stock, valued at approximately $12,545,611.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Javier Esquivel Zamora sold 23,557 shares of CarGurus stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total value of $521,316.41. Following the completion of the sale, the general counsel now directly owns 111,589 shares in the company, valued at approximately $2,469,464.57. The disclosure for this sale can be found here. Insiders have sold 113,793 shares of company stock worth $2,523,342 in the last quarter. Company insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in CarGurus by 12.0% in the 4th quarter. Raymond James & Associates now owns 452,182 shares of the company’s stock valued at $10,925,000 after purchasing an additional 48,389 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in CarGurus by 20.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock valued at $48,164,000 after purchasing an additional 336,245 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in CarGurus in the 4th quarter valued at approximately $1,377,000. Nordea Investment Management AB boosted its holdings in CarGurus by 42.0% in the 4th quarter. Nordea Investment Management AB now owns 309,651 shares of the company’s stock valued at $7,503,000 after purchasing an additional 91,626 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of CarGurus during the 3rd quarter worth approximately $1,586,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.