CarGurus, Inc. (NASDAQ:CARG) Receives $39.55 Consensus Price Target from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have received an average rating of “Buy” from the ten research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $39.55.

Several brokerages have commented on CARG. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. Oppenheimer reduced their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. JMP Securities restated a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st.

CarGurus Price Performance

Shares of CARG opened at $31.75 on Friday. The company has a market capitalization of $3.32 billion, a P/E ratio of 176.40, a PEG ratio of 1.72 and a beta of 1.52. CarGurus has a one year low of $21.18 and a one year high of $41.33. The business’s 50 day simple moving average is $35.49 and its 200-day simple moving average is $34.28.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. On average, sell-side analysts anticipate that CarGurus will post 1.41 EPS for the current fiscal year.

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 4,580 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the transaction, the chief executive officer now owns 120,051 shares of the company’s stock, valued at $4,295,424.78. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,888 shares of company stock worth $2,229,388. 17.20% of the stock is owned by insiders.

Hedge Funds Weigh In On CarGurus

A number of institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new stake in CarGurus during the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC increased its position in CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp boosted its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. grew its position in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares during the period. Finally, USA Financial Formulas bought a new stake in CarGurus in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

About CarGurus

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.