CarGurus, Inc. (NASDAQ:CARG) Receives $26.13 Consensus Price Target from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.13.

A number of research analysts have issued reports on CARG shares. Oppenheimer boosted their target price 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. Needham & Company LLC boosted their target price on shares of CarGurus from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Royal Bank of Canada boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. UBS Group boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, DA Davidson upped their price target on shares of CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a research note on Monday, May 13th.

CarGurus Stock Performance

CarGurus stock opened at $25.17 on Wednesday. The firm’s 50-day moving average is $23.96 and its 200-day moving average is $23.46. CarGurus has a 1 year low of $16.70 and a 1 year high of $26.90. The company has a market cap of $2.62 billion, a P/E ratio of 89.89, a PEG ratio of 1.46 and a beta of 1.55.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.29 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. As a group, sell-side analysts predict that CarGurus will post 0.98 earnings per share for the current year.

Insider Activity

In other CarGurus news, COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now owns 548,845 shares in the company, valued at approximately $11,756,259.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other CarGurus news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the completion of the sale, the general counsel now directly owns 102,130 shares of the company’s stock, valued at $2,553,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now directly owns 548,845 shares of the company’s stock, valued at $11,756,259.90. The disclosure for this sale can be found here. Insiders have sold 76,317 shares of company stock worth $1,831,473 over the last 90 days. 17.20% of the stock is owned by company insiders.

Institutional Trading of CarGurus

Large investors have recently added to or reduced their stakes in the business. SG Capital Management LLC bought a new stake in shares of CarGurus during the 1st quarter worth $4,222,000. Swedbank AB bought a new stake in shares of CarGurus during the 1st quarter worth $1,352,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of CarGurus by 4.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,448 shares of the company’s stock worth $1,303,000 after buying an additional 2,655 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after buying an additional 420 shares during the period. Finally, EntryPoint Capital LLC boosted its holdings in shares of CarGurus by 358.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,596 shares of the company’s stock worth $106,000 after buying an additional 3,593 shares during the period. 86.90% of the stock is owned by institutional investors.

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.