CarGurus (NASDAQ:CARG) PT Raised to $30.00

CarGurus (NASDAQ:CARG) had its target price hoisted by investment analysts at B. Riley from $28.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 11.36% from the company’s previous close.

Several other brokerages also recently weighed in on CARG. Oppenheimer raised their price target on CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday. Needham & Company LLC lifted their target price on shares of CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. BTIG Research increased their price target on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada boosted their price objective on shares of CarGurus from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Finally, DA Davidson lifted their target price on CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.75.

CarGurus Stock Up 20.3 %

Shares of NASDAQ CARG traded up $4.54 on Friday, reaching $26.94. 2,005,431 shares of the company’s stock traded hands, compared to its average volume of 904,858. The business’s 50 day simple moving average is $25.10 and its two-hundred day simple moving average is $23.82. CarGurus has a 12 month low of $16.70 and a 12 month high of $27.00. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 96.21, a price-to-earnings-growth ratio of 1.40 and a beta of 1.57.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. The company had revenue of $215.80 million during the quarter, compared to analyst estimates of $217.29 million. Analysts forecast that CarGurus will post 0.98 earnings per share for the current fiscal year.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the sale, the chief operating officer now owns 488,083 shares in the company, valued at $12,929,318.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CTO Matthew Todd Quinn sold 3,978 shares of CarGurus stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total transaction of $99,091.98. Following the transaction, the chief technology officer now owns 217,374 shares in the company, valued at approximately $5,414,786.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total value of $666,700.32. Following the completion of the sale, the chief operating officer now owns 488,083 shares of the company’s stock, valued at $12,929,318.67. The disclosure for this sale can be found here. Insiders have sold a total of 83,494 shares of company stock worth $2,119,722 in the last ninety days. Insiders own 17.20% of the company’s stock.

Institutional Trading of CarGurus

Several hedge funds have recently bought and sold shares of CARG. Lazard Asset Management LLC lifted its position 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 valued at $450,000 after buying an additional 420 shares in the last quarter. GAMMA Investing LLC raised its stake in CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after acquiring an additional 425 shares during the period. Raymond James Trust N.A. lifted its holdings in CarGurus by 1.9% during the second quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock valued at $644,000 after purchasing an additional 450 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares during the period. Finally, CWM LLC increased its stake in shares of CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares in the last quarter. Institutional investors 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.