CarGurus (NASDAQ:CARG) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of CarGurus (NASDAQ:CARG) in a research note published on Monday morning, Benzinga reports. They currently have a $32.00 price objective on the stock.

CARG has been the topic of a number of other research reports. DA Davidson increased their price objective on shares of CarGurus from $22.00 to $25.50 and gave the stock a neutral rating in a report on Monday, May 13th. B. Riley upped their price target on shares of CarGurus from $28.00 to $30.00 and gave the stock a buy rating in a research note on Friday, August 9th. Citigroup lifted their price target on shares of CarGurus from $24.00 to $27.00 and gave the company a neutral rating in a research report on Wednesday, July 3rd. BTIG Research upped their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a buy rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada raised their target price on CarGurus from $27.00 to $30.00 and gave the stock an outperform rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CarGurus presently has an average rating of Moderate Buy and a consensus price target of $29.35.

CarGurus Stock Up 4.0 %

CarGurus stock opened at $28.42 on Monday. CarGurus has a 52-week low of $16.70 and a 52-week high of $29.40. The firm has a fifty day moving average of $26.36 and a 200-day moving average of $24.58. The firm has a market capitalization of $2.96 billion, a P/E ratio of 101.50, a PEG ratio of 1.32 and a beta of 1.56.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The business had revenue of $218.69 million during the quarter, compared to the consensus estimate of $214.85 million. On average, research analysts expect that CarGurus will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Matthew Todd Quinn sold 3,978 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total transaction of $99,091.98. Following the completion of the sale, the chief technology officer now owns 217,374 shares of the company’s stock, valued at $5,414,786.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total transaction of $99,091.98. Following the completion of the transaction, the chief technology officer now owns 217,374 shares of the company’s stock, valued at $5,414,786.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the transaction, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The disclosure for this sale can be found here. Insiders sold a total of 57,421 shares of company stock valued at $1,567,354 over the last ninety days. 17.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CarGurus

A number of institutional investors and hedge funds have recently modified their holdings of CARG. Lazard Asset Management LLC raised its position in CarGurus by 2.2% in 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 during the last quarter. GAMMA Investing LLC increased its holdings in CarGurus by 25.9% in 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 last quarter. Raymond James Trust N.A. increased its holdings in CarGurus by 1.9% in the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after acquiring an additional 450 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the last quarter. Finally, CWM LLC increased its holdings in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares during the last quarter. 86.90% of the stock is currently 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.