CarGurus (CARG) to Release Earnings on Thursday

CarGurus (NASDAQ:CARG) will be issuing its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of $0.29 per share for the quarter. CarGurus has set its Q1 guidance at $0.24-0.29 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. CarGurus’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 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 Performance

NASDAQ:CARG opened at $22.61 on Wednesday. CarGurus has a 1 year low of $16.02 and a 1 year high of $24.64. The stock has a market cap of $2.43 billion, a P/E ratio of 125.61, a P/E/G ratio of 1.38 and a beta of 1.57. The stock has a 50-day simple moving average of $22.76 and a 200-day simple moving average of $22.28.

Analysts Set New Price Targets

Several brokerages have commented on CARG. JMP Securities reiterated a “market perform” rating on shares of CarGurus in a research note on Wednesday, April 17th. Needham & Company LLC increased their target price on shares of CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. UBS Group lifted their price target on shares of CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Oppenheimer upped their price objective on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.90.

Insider Transactions at CarGurus

In other CarGurus news, insider Andrea Lee Eldridge sold 22,358 shares of CarGurus stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the transaction, the insider now directly owns 117,432 shares in the company, valued at approximately $2,598,770.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total transaction of $99,095.04. Following the completion of the transaction, the chief marketing officer now directly owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrea Lee Eldridge sold 22,358 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $494,782.54. Following the completion of the sale, the insider now owns 117,432 shares of the company’s stock, valued at approximately $2,598,770.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,793 shares of company stock worth $2,523,342. Company insiders own 15.70% 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.